spring2009_final

spring2009_final - Final Exam Econ 150b Intermediate...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Final Exam Econ 150b. Intermediate Microeconomics May 11, 2009 Please write your name and discussion-section time on each blue book. 1. (15 points.) Define any two of the following terms, introducing the relevant notation and using diagrams or equations where appropriate. (a) Marginal rate of substitution (b) Pareto efficiency (c) Competitive equilibrium (d) Pigouvean taxes 2. (15 points.) Choose any two of the following concepts. For each, explain in a brief paragraph (about 50-60 words), with an accompanying equation or diagram where ap- propriate, its significance in microeconomic theory. You don’t have to give any proofs. (a) Revealed preference (b) First welfare theorem (c) Price discrimination (d) Clark-Groves mechanism 3. (30 points.) Consider a monopolist who faces two consumers, labeled A and B . Con- sumer A has an inverse demand function given by P A D 10 1 2 x A , while consumer B ’s inverse demand function is P B D 10 x B . Assume the monopolist has a constant marginal cost equal to 2 .
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern