AS.180.301 Fall 2013
Homework Assignment # 3, Due date October 30, Wednesday
1. Consider a competitive market and a well-behaved technology with 2 inputs and 1
output.
a) Verbally and algebraically state the producers profit maximization problem.
What are
JOHNS HOPKINS UNIVERSITY
Department of Economics
180.301 Fall 2013
Homework Assignment # 1
Deadline: September 20, Friday
Note: This assignment partially covers the topics that we discussed in the class and
sections. I do not include graphical questions a
JOHNS HOPKINS UNIVERSITY
Department of Economics
180.301 Fall 2013
Homework Assignment # 2
Due date: September 27, Friday.
1. [Be careful with the algebra!] Consider an individual whose utility function is given
2
by u ( x1, x2 ) = x12 + x2 .
(a) Suppose
Review Questions for Chapter 12
Q1. (True or False.) Assume there are two states of the nature: l, h, where each occurs
probability 0.5. Consider the two lotteries: L1 returns $2 in state l and $3 in state h;
L2 returns $0 in state l and $4 in state h. If
JOHNS HOPKINS UNIVERSITY
Department of Economics
180.301 Fall 2011
Homework Assignment # 4
1. Consider a monopoly supplying the domestic market in country A in which the
inverse demand function is:
Pa (Qa ) = 4000 22Qa ,
where Pa and Qa denote the price a