Jorgen Harris
October 9, 2014
Econ 6090
First Practice Exam Solutions
Part I (30 points):
1. We can calculate Walrasian demand from indirect utility using Roys identity:
(
)
(
)
(
)
(
)
2. No, is not
Economics 6090
Professor David Easley
Fall 2015
Cornell University
Problem Set 5
Due Friday, Nov 20 in TA Section
1. Suppose an individual's Bernoulli utility function, u(m), is twice continuously dif
ECON 6090: Section II
TA: Nahim Bin Zahur
September 11, 2015
1. Optimization
Mary goes to the grocery store to buy tomatoes (x) and pineapples (y). She needs to buy at least
20 tomatoes. Their prices
ECON 6090: Section XII
TA: Nahim Bin Zahur
December 02, 2015
1. SEU and Ambuguity Aversion (Final 2013)
At date t an individual has to decide how to allocate wealth w across assets that payoff in the
ECON 6090: Section XII
TA: Nahim Bin Zahur
December 02, 2015
1. Nash Equilibria (Final 2013)
Players A and B will play a normal form game. As strategy set is cfw_U, M, D and Bs strategy set
is cfw_W,
Professor Easley
October 26, 2015
ECON 6090
Practice Second Exam
Part I (30 points) Provide a brief answer for each of the following questions.
1. A firm produces output y 0 from inputs x1 0 and x2 0
Professor Easley
September 23, 2015
Econ 6090
First Practice Exam
Part I (30 points) Provide a brief answer for each of the following questions.
1. A consumer has indirect utility function V (p1 , p2
Problem Set 2 Solutions
ECON 6090
September 25, 2015
Question 1
Proposition 1.D.2 in the textbook (MWG) says that we need choices from all subsets upto three
elements in order to have a rational prefe
ECON 6090: Section V
TA: Nahim Bin Zahur
October 02, 2015
1. Effect of price changes (Aug 2009 Qualifying Exams, Part I)
An individual has preferences over consumption goods in <l+ represented by the
Problem Set 5 Solutions
ECON 6090
December 05, 2015
Question 1
a. The expected utility associated with the bet is V (t) = pu(W +t)+(1p)u(W t). The marginal
expected utility with respect to changes in
ECON 6090: Section VI
TA: Nahim Bin Zahur
October 09, 2015
NOTE: Since we did not have time to complete Part 2 in Section last week, I have included solutions for those questions.
1. EV and CV (Adapte
Professor Easley
November 4, 2015
Econ 6090
Second Exam
Part I (40 points) Provide a brief answer for each of the following questions.
1. The price at which a firm sells its output varies from year to
Economics 6090
Professor David Easley
Fall 2015
Cornell University
Problem Set #3
Due September 25 in TA section
1.
A consumer has preferences on
2
represented by the utility function u(x,y) = x y whe
Professor Easley
October 30, 2015
Econ 6090
Practice Second Exam with Brief Answers
Part I (30 points) Provide a brief answer for each of the following questions.
1. A firm produces output y 0 from in
ECON 6090: Section IX
TA: Nahim Bin Zahur
October 30, 2015
1. Comparative Statics (Continued from Last Week)
A profit maximizing firm uses 2 inputs, x <2+ , to produce one output, y <1+ , using the pr
ECON 6090: Section III
TA: Nahim Bin Zahur
September 18, 2015
NOTE: As we did not fully finish Question 3, I have included solutions for them.
1. Local and global optima
Recall Result 2 from class:
Re
ECON 6090: Section VII
TA: Nahim Bin Zahur
October 16, 2015
NOTE: I have included solutions for the final part of Question 2 and Question 3. We will also
revisit the Cobb-Douglas problem during this F
Professor Easley
December, 2015
Econ 6090
Practice Final Exam
Part I (40 points) Provide a brief answer for each of the following questions.
1. A consumers preferences over consumption in <n+ can be r
ECON 6090 Fall 2015
Professor David Easley
Problem Set #3
Yuting Ji
[email protected]
Problem 1. The consumers problem (utility maximization problem) is given by
max u(x, y) = x + y
x,y
s.t. px + y =
Problem Set Three, ECON 6090
Due: October 23rd, 2012
1. Some propositions on returns to scale
(a) Prove constant returns to scale implies decreasing and increasing returns to scale definitions hold.
(
Professor Easley
December, 2015
Econ 6090
Practice Final Exam
with Answers
Part I (40 points) Provide a brief answer for each of the following questions.
1. A consumers preferences over consumption in
ECON 6090: Section XI
TA: Nahim Bin Zahur
November 13, 2015
1. Horserace (Final 2013)
An individual who begins with wealth w > 1 can choose whether or not to bet at a horserace
and what bet to make if
Problem Set 1 Solutions
ECON 6090
September 11, 2015
Question 1
a. Consider any x, y, z X such that x y and y z.
By the definition of ,
x y x y and y x
y z y z and z y
Then by transitivity, x y and y
First Exam Solutions
ECON 6090
October 13, 2015
Part I
Question 1 (10 points)
We have the following utility maximization problem:
max ln(x) + (1 ) ln(y)
s.t. px x + py y = w
The utility function is st
Department of Economics - Fall 2013 Course Schedule
R OO M S
COU RSE
INSTRUCTOR
TITLE
D AY AN D TIM E
KND 116 AUD
111 0-1
BURKHAUSER
INTRODUCTO RY MICROECONO MICS
MW 9:05 - 9:55
URH G 01
111 0-2
WISSI
Problem Set 6 Solutions
ECON 6090
December 05, 2015
Question 1
Note that actuarially fair insurance means that the price of one unit of insurance is equal to the
expected cost of insurance.
If Max buy
Economics 6090
Fall 2015
Professor David Easley
Cornell University
IMPLICIT FUNCTIONS
Suppose that F: n+m 6 n has continuous partial derivatives and is specified by component
functions
Let
such that
T
ECON 6090: Section X
TA: Nahim Bin Zahur
November 06, 2015
NOTE: Solutions for Part I are included.
1. Investment Uncertainty (June 2010 Q)
Consider an investor with initial wealth w > 0 who must inve
ECON 6090 - Midterm Two 75 Minutes. THREE PAGES TO EXAM Comments before you start: If you believe a question is unclear, please state how you interpret the question. In proofs use formal mathematical
ECON 6090 - Midterm Two 75 Minutes. TWO SIDES TO EXAM SHEET If you believe a question is unclear, please state how you interpret the question and we will take this into account during grading. In proo