ECON 3130: Intermediate Microeconomics
First Midterm (Spring 2012)
1. Use indifference curves and a budget line (or budget lines) to illustrate the following
situations:
a. When Kelly starts working,
ECO 303: Intermediate Microeconomic Theory
Problem Set 2
Due Date: Sept 17th (in the beginning of the class).
Late submissions will not be accepted.
Question 1 (20pts)
SOLUTION
Dene:
(i ) Indierence C
Econ 3030
Fall 2013, R. Masson
Problem Set 2 Solutions
Problem 1: There are two goods: x and y . You have money income of
M = 30. The unit price of good x is 2, and the unit price of good y is also 2.
Econ 3030
Fall 2013, R. Masson
Problem Set 2
Problem 1: There are two goods: x and y . You have money income of
M = 30. The unit price of good x is 2, and the unit price of good y is also 2.
a. Write
Econ 3030
Fall 2013, R. Masson
Problem Set 1 Solutions
Problem 1: Suppose the demand curve for x is p = A Bx, where A, B
are constants. Revenues, or the amount spent on x, are given by R = px.
a. Show
Econ 3030
Fall 2013, R. Masson
Problem Set 4 Solutions
Problem 1: Suppose that the utility function of a person is quasi-linear,
of the form U = v (x1 ) + x2 .
1. Draw a picture of the Slutsky substit
ECON 3030 Homework 0
(100 points total, uniformly distributed)
1. Suppose a consumer is considering 3 goods. The price of good 1 is -1, the price of good 2 is
+1, and the price of good 3 is +2. It is
ECON 3130: Intermediate Microeconomics
Second Midterm (Spring 2012)
1. a. Ernest currently has $2,500. He is deciding whether to invest in a project
(investing in this project requires all the money h
Econ 3030
Fall 2013, R. Masson
Problem Set 4
Problem 1: Suppose that the utility function of a person is quasi-linear,
of the form U = v (x1 ) + x2 .
1. Draw a picture of the Slutsky substitution eect
Econ 3030, Fall 2013, R. Masson
Chapter 11: p. 1
Chapter 11: Asset Markets
I. The Varian Text and My Notes
A. Calling these notes Chapter 11 Notes is misleading, I present a model which is not in
Vari
Econ 3030, Fall 2013, R. Masson
Chapter 27: p. 1
Chapter 27: Oligopoly
I. I will do much of what Varian accomplishes in this Chapter, but differently
A. When I was a student I loved playing with isopr
ECON 3030 Homework 2 (modeling preferences)
(100 points total; to get full credit, all work arriving at the answer must be shown)
1. (15 points) Bob consumes only apples and bananas. He always prefers
ECON 3030 Homework 1
(100 points total, uniformly distributed, a and b count as separate questions)
1. Tim consumes only apples and bananas. He always prefers more apples to fewer, but he gets
tired o
ECON 3030 Homework 4 (optimal choice, demand functions)
(100 points total; to get full credit, all work arriving at the answer must be shown)
1. (25 points) This question is about using our model of r
T. Mitra, Fall 2013
Intermediate Microeconomic Theory (Econ 3030-1)
Fall 2013
Problem Set 2
Solution to this problem set is due on Tuesday, September 17, in class.
You should submit written solutions
Econ 3030
Fall 2013, R. Masson
Problem Set 3
Problem 1:
Suppose that the utility function of a person is given by
1/2 1/2
U = 2x1 x2 . The price of x1 is p1 , the price of x2 is p2 , and the income is
ECON 3130: Intermediate Microeconomics
First Midterm (Spring 2013)
1. Use indifference curves and a budget line (or budget lines) to illustrate the following
situations:
a. Water usage in the dorm is
Econ 3030
Fall 2013, R. Masson
Problem Set 11 Solutions
Problem 1: Draw separate diagrams to show a rm under monopolistic
competition making supernormal prots (positive rents) in the short run
and nor
ECON 3030 Homework 2
(100 points total, a-d are separate questions, bullet points are not)
1. Suppose the utility function U (x; y) = y + x2 represent a person preferences. Are her
s
preferences "well
T. Mitra, Fall 2013
Intermediate Microeconomic Theory (Econ 3030-1)
Fall 2013
Problem Set 3
This problem set is for practice only
DO NOT submit written solutions to these problems
1. [Changes in Deman
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T. Mitra, Fall 2013
Intermediate Microeconomic Theory (Econ 3030-1)
Fall 2013
Problem Set 1
Solution to this problem set is due on Tuesday, September 10, in class.
You should submit written solutions
1
1 Representation of Preferences by a Utility Function: Implications
1
Representation of Preferences by a Utility Function: Implications
(a)
If x
y , then x y and y x.
x y u(x) u(y )
y x u(y ) u(x) u
Econ 3030
Fall 2013, R. Masson
Exam 1 Solutions
Problem 1: (10 pts) List the four points on the graph below in order of
decreasing elasticity. If any two points have the same elasticity then you can
l
Econ 3030
Spring 2014, R. Masson
Due Wednesday February 12 at the end of class.
Problem Set 3
Problem 1:
Use budget lines and indierence curves to illustrate the
following situations.
a. The price of
ECON 3030 - Intermediate Economic Theory - Spring 2015
(formerly ECON 3130)
Department of Economics
Cornell University
Maxim Troshkin
([email protected], 446 Uris Hall)
The aim of this course is to
Budget Constraint
Composite good is a good that represents everything else that the consumer might
want to consume other than good 1.
Setting the price to one, called the numeraire price, does not aff
Econ Study Guide
Ch2. Summary
1. The budget set consists of all bundles of goods that the consumer can afford
at given prices and income. We will typically assume that there are only two
goods.
2. The
Cornell University
Spring 2018
Economics 3030: Problem Set 2 Solutions
1. For each of the following utility functions, solve for the consumers (Marshallian) demand functions, indirect utility function