March 2, 2004
You have 75 minutes to answer the following questions. Each of the first five questions is
worth 15 points. The five remaining questions are worth 5 points apiece. There is one
bonus question at the end worth
Short Answers to Exercises
A Short Course in Intermediate Microeconomics with Calculus
Solutions to Exercises Short Ansers1
Roberto Serrano and Allan M. Feldman
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The purpose of this set of (mostly) short answers is to provide a
Solutions to Midterm Exam
Q1. (15 pts) Answer True or False. You dont have to give an explanation.
(a) Someone with decreasing marginal utility of wealth is risk-loving.
False. A utility function with decreasing marginal utilit