Homework #8
The inverse demand for a firms product is P = 300!Q2. The firms cost of production is
C(Q) = 354Q ! 30Q2 + Q3. The posted lecture slides show that the firm maximizes its profit by producing
and selling Q=9 units at a price of P=219.
(a)
Comput
Economics 361
Spring, 2015
EXAM 2 Form A Form B Form C
Except for straightforward questions like definitions, you should justify your answers. Much of the credit
for the question typically depends on your justification. The best justifications are clear a
Homework #7
1. The demand for a firms product is Q(P) = 10!%P. The firms cost of production is
C(Q) = 73Q!20Q2 +2Q3.
(a)
Compute the firms inverse demand function.
Solving the demand function for P: %P = 10 ! Q => P(Q) = (10!Q)2 for Q#10.
(b)
Compute the
Homework #4
(due February 12)
Assume that the market for cotton is competitive with demand and supply functions QS = eP!4+ and
QD = 8!eP/2+, where represents various exogenous influences on supply, represents various exogenous
influences on demand, and e
Homework #1
1. Assume that the supply of bauxite (the ore from which most aluminum is produced) is QS = 5P ! 15,
and the demand for bauxite is QD = 39 ! P.
(a)
Calculate the inverse supply curve and inverse demand curve, and the slopes of these curves.
So
Homework #6
(due March 5)
1.
A consumer has the utility function U(x,y) = xy, where >0 and >0 are fixed parameters. This is
called a Cobb-Douglas utilty function. The consumers problem is to allocate optimally a fixed income I>0
between goods x and y, whi
Homework #10
Assume that the demand for a firms product is QD = 16 ! 2p, where p is measured in dollars. The firm uses
three inputs and its production function is Q = %(xyz), where here we are using x, y, and z to represent the
quantities of the three inp
University of Arizona
Department of Economics
Professor Dufwenberg
sample exam
ECON 431
Games & Decisions
Midterm #1
0. (39) Whats your name? .
1. (35) Define, first in words and then formally, the following concepts:
(a) weakly dominated strategy
(b) Nas
University of Arizona, Department of Economics
Econ 431, Fall 2016, Martin Dufwenberg
Problem Set 2
JW Chapter 14: Exercise 2; solve also the guided exercise without peaking at the solution
JW Chapter 15: Exercises 1, 2, 3, 5, 6, and 10 replacing iterated
University of Arizona, Department of Economics
Econ 431, Fall 2016, Martin Dufwenberg
Problem Set 1a
JW Chapter 2, Questions 3, 4, 6, 8
JW Chapter 3, Questions 2, 3, 4, 7
JW Chapter 4, Questions 1, 2(a), 3, 4
1
1
i
o
i
2
2
B
F
1
b
3
1
B
2
0
F
b
0
0
0
0
Fi
University of Arizona, Department of Economics
Econ 431, Fall 2016, Martin Dufwenberg
Problem Set 1b
Solve the following exercises from JWs book everywhere replacing rationalizable by
survives iterated eliminations of strictly dominated strategies, etc: C