Introduction to Microeconomics
Marc Lieberman
New York University
Spring, 2016
Supplemental Problem Set #1
Instructions: Answer these problems before the recommended due date listed in the Aplia course outline. You wont be
turning this in, but youll be as
Name:
Recitation teachers name and time + day of recitation:
Microeconomics (Fall 2012)
Sample Quiz 1
You have 15 minutes to complete the quiz. Good luck.
Suppose that David has preferences for hours watching ice hockey (where H is the
number of hours he
Posted 8/20
Economic Principles UA 2
Fall 2015
Microeconomics
Instructor Information
Name
Maharukh Bhiladwalla
Email
mb3326@nyu.edu
Office
19 W 4th Street
Room 703
Office Hours (drop in)
M 2-3, W 10-11
(and by appointment)
Teaching Assistants Information
Microeconomics (Fall 2012)
Sample Midterm 1
Part I (4 points each; total 40 points), Part II (30 points each; total 60 points)
Part I: Short-answer questions (4 points each)
1. On a fully-labeled supply and demand graph, illustrate the changes in consumer
Name_
Recitation teachers name, time and
day_
Microeconomics (Fall 2012)
Sample Quiz 1
You have 15 minutes. Good luck!
1. (5 points)
Using an example in your answer, describe what is meant by transitive
preferences.
The axiom of transitivity implies that
Microeconomics (Fall 2012)
Problem Set 7
Due in class (Monday, November 19)
Please submit your answers on a separate sheet(s) of paper with your name, the name of
your recitation teacher, and the day and time of your recitation.
1. Consider that Automobil
Test your understanding for midterm 1
(TAs will solve selected questions in recitation #4)
Point
A
B
C
D
E
#Pizzas
20
18
14
8
0
#Tanks
0
6
10
12
13
1) The table above shows five different points along the production possibilities frontier for a country
th
Test your understanding of midterm 2 material:
(TAs will solve selected questions during recitation on 11/1)
(Based on Ch 7,8,9)
Q1. Imagine that you have started an online DVD purchase store servicing students on your college campus.
Students send you or
Microeconomics (Fall 2012)
Problem Set 4
Due in class (Monday, October 8)
Please submit your answers on a separate sheet(s) of paper with your name, the name of
your recitation teacher, and the day and time of your recitation.
1.
Suppose inputs are only s
Microeconomics (Fall 2012)
Problem Set 1
Due in class (Monday, September 17)
Write your answers on separate sheets of paper. Please include your name, your
recitation teachers name, and the day and time of the recitation.
1. Suppose you are planning to co
Microeconomics (Fall 2012)
Problem Set 2
Due in class (Monday, September 24)
Please submit your answers on a separate sheet(s) of paper with your name, the name of
your recitation teacher, and the day and time of your recitation.
1.
Suppose a consumers ut
Microeconomics (Fall 2012)
Sample Midterm 2
Part I (4 points each; total 40 points), Part II (30 points each; total 60 points)
Part I: Short-answer questions (4 points each)
1. Give an example of a preference relation that does not satisfy the axiom of tr
Microeconomics
Fall 2011
Problem Set 9 (due Monday, December 5)
Please submit your answers on a separate sheet(s) of paper with your name, the name of your recitation
teacher, and the time of your recitation at the top.
1. Suppose that Panasonic and Zenit
Test your understanding for midterm 1
(TAs will solve selected questions)
Point
A
B
C
D
E
#Pizzas
20
18
14
8
0
#Tanks
0
6
10
12
13
1) The table above shows five different points along the production possibilities frontier for a country
that produces tanks
Chapter 1 Assigned problems
5. Use the information in Table 1 ( as well as the assumption about foregone income made in the chapter (page 4)
to calculate the average opportunity cost of a year in college for a student at a four- year private institution u
Introduction to Microeconomics
Marc Lieberman
New York University
Spring, 2016
Supplemental Problem Set #2
Instructions: Do this on your own before the recommended due date listed in the Aplia course outline. After the due date, the
answers will be posted
1. Suppose a bakery produces donuts using the following: the ingenuity of the
bakery owner, a deep-fryer, wheat (made into flour), and a baker. Which of
them would be considered labor?
a. the deep fryer
b. the wheat
c. the ingenuity of the owner
d. the ba
Midterm #2
Chapter 6
Questions
1. Movie tickets are a normal good. If the substitution effect is stronger than the income effect, when the
price of a ticket increases, the two effects:
a. Work in the same directions so that the quantity demanded increases
Supply and Demand:
A.
Economic model, designed to explain how prices
are determined in certain types of markets
B.
Prices: Important role in the economy, which
households will get which goods and services, which firms
will get which resources
C.
Market: g
A. Societyschoice
I.
Howmuchofitsresourcestoallocate
a. NationalDefense
b. CivilianProduction
2.Ifyouwanttomakemoretanks,youhavetogiveupwheat,andvice
versa.Sothequestioniswhogetstodecidewhichtochoose.This
leadstotheProductionpossibilitiesfrontier(PPF).
a.
Microeconomics (Fall 2012)
Problem Set 3
Due in class (Monday, October 1)
Please submit your answers on a separate sheet(s) of paper with your name, the name of
your recitation teacher, and the day and time of your recitation.
1.
Gary spends all his money
Introduction to Microeconomics
Marc Lieberman
New York University
Spring, 2016
Problem Set #10 ANSWERS
Part I
1.
2.
3.
4.
5.
Both PI and PPI. Keri gains producer surplus of $75 per week (she values her time at $150 per week, but gets
$225). John gains con
Microeconomics (Fall 2012)
Problem Set 8
Due in class (Wednesday, November 28)
Please submit your answers on a separate sheet(s) of paper with your name, the name of
your recitation teacher, and the time of your recitation at the top.
1. A monopolist sell
Microeconomics (Fall 2012)
Problem Set 6
Due in class (Monday, October 29)
Please submit your answers on a separate sheet(s) of paper with your name, the name of your recitation
teacher, and the day and time of your recitation.
1.
i.
ii.
iii.
If the cost
Microeconomics (Fall 2012)
Problem Set 5
Due in class (Wednesday, October 17)
Please submit your answers on a separate sheet(s) of paper with your name, the name of
your recitation teacher, and the day and time of your recitation.
1.
Draw a graph showing
Final Preparation Supplementary problem solutions
E919.
Present value of cash payments:
$15,000 x 5.9713 = $89,570
150,000 x 0.5820 = 87,300
$176,870
E920.
$1,650,000 x 0.6756 .
$280,000 x 8.1109 .
Present value .
$ 1,114,740
2,271,052
$3,385,792
E921.
$1