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Homework 03
ANSW
ECON 305.
Dr. Dan Gerlowski
This homework assignment is to be understood by all students. It will be presented by the Charcoal and
Red teams by Saturday 2/19/11 at 11:00 p.m. Each of these teams will submit one word file to the
conference
Intermediate Microeconomics
ECO 340 - Section 2
Problem Set 1
Solutions
1. (10 pts) Read the New York Times article: Oil Prices: Whats Behind the Plunge? Simple
Economics. (http:/nyti.ms/1HUKGuG) Use supply and demand curves to represent
graphically what
ECON 340 Spring 2016 HW #2 Solutions
1.
(a) , =
=
(b) expenditure on eggs + expenditure on cabbage Cathys income
6e + 3c 72
(c) In class, we showed that the following conditions are satisfied to maximize utility:
, =
=
6
3
c = 2e
Plugging c = 2e into 6e
Intermediate Microeconomics
ECO 340 - Section 2
Problem Set 1
Due on Thursday September 10th at the beginning of class
1. (10 pts) Read the New York Times article: Oil Prices: Whats Behind the Plunge? Simple
Economics. (http:/nyti.ms/1HUKGuG) Use supply a
ECON 340 Spring 2016 - Practice Exam #1
True/False If false, explain in EXACTLY ONE sentence. (5 points each)
1. The slope of the budget line is the negative of the ratio of the marginal
utilities
2. Quasi-linear utility functions have parallel indierence
EC 340: Intermediate Microeconomic Theory Homework #1
Due: February 11, 2015
Problem #1
Consider the set, X , of pairs of (a, b) , where a and b are integers not smaller
than 0 and not bigger than 9. Dene the preferences over elements of X
a>c
a=c
(c, d)
ECON 340 Fan 20/6
Problem 3d? 3
. 1. Thank gout for writing gour answers neatly and clearly.
2K 97*2KMLJ: 2x4l<3= 54KLJ5~8K3
c. " when L=Ia MRg=54L*-I<*3|<3= QlK-SKg
mix QIK-8K3
St- K )0
-i= QtK-SK3
Foo *wm 23x81<=o Ki: 1 K53 (because Km)
when K =3, MPK r
Lecture # 10
Inputs and Production
Functions
(cont.)
Lecturer: Martin Paredes
1. The Production Function (conclusion)
Elasticity of Substitution
2. Some Special Functional Forms
3. Returns to Scale
4. Technological Progress
2
Definition: The elasticity o
ECON 340 Fall 2016 Vargas
Intermediate Microeconomics
ECO 340
Problem Set 2
Due on September 15th, 2016 at the beginning of class
Please write on your homework your full name, as it appears in Blackboard, and your
student ID number. Write neatly and show
Chapter 11
Monopoly
and Monopsony
1
Chapter Eleven Overview
1. The Monopolists Profit Maximization
Problem
The Profit Maximization Condition
Equilibrium
The Inverse Pricing Elasticity Rule
2. Multi-plant Monopoly and Cartel
Production
3. The Welfare Ec
Intermediate Microeconomics
ECON 340
Problem Set 6
Due on December 8th, 2016 at the beginning of class
On a cover page write your full name, as it appears on Blackboard, your student ID
number, problem set 6, and the due date. Start writing your answers o
E CON 84-0 SOILLtlOn for Problem Set 5
at equilibrium, QD=QS
-'- OO- 2g=740+4175 Br 12% _ _- H6
R)=Ps"'4-
APS= 4038;: Lg .AF=42.5-40=9.E
_ . Because the price elastfciaj of demand = [15! </%cfw_ Price elm tl'cf'fy of supply
which means the rm is more "V
EC 340: Problem Set #3
April 16, 2015
Due April 24, 2014 - Please bring your solutions to my oce during oce hours
Problem #1
Consider the following game
L
R
10, a 3, 7
12, 4 5, b
U
D
i) Can you nd a value for b such that (D, R) is a unique equilibrium?
ii
ECON 340 Spring 2016 HW #4 Solutions
1.
(a) Since Gus has to pay rent no matter whether he operates, the $20 rent is a sunk fixed cost.
Since Gus needs to pay the officers wages of $27 and the refrigeration costs of $5 only if
he operates, they are non-su
ECON 340 Spring 2016 HW#2
Due: Wednesday, February 3, 2016
1. Suppose that Cathy consumes two goods: eggs (e) and cabbage (c). Her
utility function is u = ec. The price of an egg is 6, while the price of
cabbage is 3. Cathy has $72 in income.
(a) What is
ECON 340 Spring 2016 HW#1
Due: Wednesday, January 27, 2016
1. For each of the following, solve for the equilibrium price and quantity
(a) QD = 300 5P , QS = 50 + 20P
(b) QD = 25 P , QS = 5 + 2P
(c) QD = 12 2P ,QS = 8 + 2P
2. For each of the following dema
ECON 340 Spring 2016 - Practice Exam #1 Solution
1. False. The slope is the negative of price ratio and it equals the negative of the ratio of
marginal utilities at the optimal bundle.
2. True.
3. False. As we have quantity of good Y as y-intercept (where
ECON 340 Intermediate Microeconomic Theory
Purdue University Spring 2016
Mondays, Wednesdays, and Fridays 10:30-11:20 (RAWL 1062) or 1:30-2:20 (RAWL 1057)
Professor Timothy N. Bond
Office: RAWL 4028
Phone: 96-3664
Email: tnbond@purdue.edu
Office Hours: Mo
Agenda
Where Are We?
2
The Budget Constraint
3
Optimal Choice
4
Applications
5
Revealed Preference
September 5th , 2013
ECON 340
Slide 2
Available Baskets
Every month you make I = $120.
Must allocate I over two goods,
C - Clothing at price PC = $2 per uni
Intermediate Microeconomics
ECO 340-004
Problem Set 2
Due on Monday September 21 at the beginning of class
You must show how you arrived at every single answer on the problem set. Even if you did it in your
head, write down what your head did. You will re
Intermediate Microeconomics
ECO 340-002
Problem Set 2
Due on Tuesday September 22 at the beginning of class
You must show how you arrived at every single answer on the problem set. Even if you did it in your
head, write down what your head did. You will r