Homework #6
Due date: Monday, October 19th.
Problem 1
Consider a consumer whose preferences over (c1 , c2 ) state-contingent consumption bundles
are represented by one of the following expected utilit
Jae-Yoon Kim
ECON 3104
Microeconomic Theory
2nd Homework Assignment (Suggested Solution)
Fall 2016
Problem 1. Carol consumes apples and cookies. Let xa R+ be the amount of apples and
xc R+ be the amou
Homework #4
Due date: Friday, September 25th.
Homework #4 consists of two problem sets:
Problem 1
Homer loves to consume scones and donuts. Denote by (xg , xc ) X a consumption bundle
consisting of xs
Homework #2
Due date: Friday, 11th September.
Homework #2 consists of two problem sets:
Problem 1
Bart consumes apples and bananas. He likes both of them. Denote by xa the amount of
apples and by xb R
Homework
Due date:
#3
Monday, September 21st.
Homework #3 consists of one warm-up exercise and one problem set.
Warm Up Exercise!
i) This warm-up exercise asks you to calculate marginal utilities and
1
Econ 3104 (Fall 2016)
Instructor: Dr. Adam Dominiak
TA: Dongwoo Lee ([email protected])
Solution for HW #9
November 26, 2016
Homework #9: A suggested solution.
Problem 1
Monopolist
(1) Profit-Maximiza
Homework #7
Due date: Tuesday, March 28.
Problem 1
A prot-maximizing rm produces a nal good y by using an input x. The technologically
feasible production plans are described by the following function
Homework #9
Due date:
Thursday, April 20.
Problem 1
There is a market for Varian's book Intermediate Microeconomics.
monopolist with a cost curve given by
C(y) = 21 y 2 .
described by the inverse dema
Econ 3104 (Fall 2017)
Instructor: Dr. Adam Dominiak
TA: Chang Geun Song ([email protected])
Solution for HW #2
September 19, 20171
Homework #2: A suggested solution.
Warm Up Exercise!
i) This warm-up ex
1
Econ 3104 (Fall
2016)
A Suggested
Solution for the Homework #10
Instructor: Dr. Adam Dominiak
TA: Dongwoo Lee ([email protected])
Homework #11: A suggested solution.
Problem 1
(1) The Edgeworth box for
1
Econ 3104 (Fall 2016)
Instructor: Dr. Adam Dominiak
TA: Dongwoo Lee ([email protected])
Solution for HW #9
November 26, 2016
Homework #9: A suggested solution.
Problem 1
Monopolist
(1) Profit-Maximiza
1
Econ 3104 (Fall 2016)
Instructor: Dr. Adam Dominiak
TA: Dongwoo Lee ([email protected])
Solution for HW #7
November 1, 2016
Homework #7: A suggested solution.
Problem 1
(1) For any > 1, we have the fol
1
Homework #8: A suggested solution.
(1) The inverse demand function can be derived:
XD ( p) = 100 2p
2p = 100 X
1
PD (X ) = 50 X.
2
The inverse supply function can be derived:
XS ( p) = 2p
2p = X
1
1
Econ 3104 (Fall 2016)
Instructor: Dr. Adam Dominiak
TA: Dongwoo Lee ([email protected])
Solution for HW #6
October 13, 2016
Homework #6: A suggested solution.
Problem 1
The expected value (EV) for the
1
Econ 3104 (Fall 2016)
Instructor: Dr. Adam Dominiak
TA: Dongwoo Lee ([email protected])
Solution for HW #2
September 13, 2016
Homework #2: A suggested solution.
Problem 1
Based on the given utility fu
1
Econ 3104 (Fall 2015)
Instructor: Dr. Adam Dominiak
TA: Dongwoo Lee ([email protected])
Solution for HW #4
September 21, 2016
Homework #4: A suggested solution.
Problem 1
1. Given utility function u(xs
1
Econ 3104 (Fall 2016)
Instructor: Dr. Adam Dominiak
TA: Dongwoo Lee ([email protected])
Solution for HW #2
September 14, 2016
Homework #2: A suggested solution.
Problem 1
Based on the given utility fu
Homework #4
Due date: Monday, October 2.
Problem 1
Alice loves to consume scones and coee, however, only in a xed proportion. Denote by
(xs , xc ) a consumption bundle consisting of xs scones and xc c
Homework #7
Due date: Wednesday, October 30.
Problem 1
A prot-maximizing rm produces a nal good y by using an input x. The technologically
feasible production plans are described by the following func
Homework #8
Due date:
Friday, November 17.
Problem 1
There is a market for Varian's book Intermediate Microeconomics.
monopolist with a cost curve given by
C(y) = y 2 .
described by the inverse demand
Microeconomic Theory
ECON 3104 Fall 2014
Jae-Yoon Kim
Homework # 7 Solution
Oct. 30, 2014
Problem 1
1. The expected value for the lottery is EV = 32 1 + 31 8 =
1
10
3
3.33.
1
1) EU = 23 1 3 + 13 8 3
Homework #9
Due date:
Monday, November 17.
Problem 1
There is a competitive market with for a commodity traded at price
is given by
XD (p) = 100 2p,
the supply function is
1. Derive the inverse demand
Microeconomic Theory
ECON 3104 Fall 2014
Jae-Yoon Kim
Homework # 8 Solution
Nov. 17, 2014
Problem 1
1
1
1
1
1. f(x) = (x) 3 = 3 x 3 < f (x) = x 3 for all > 1. Thus, this technology shows Decreasing
Re
Microeconomic Theory
ECON 3104 Fall 2014
Jae-Yoon Kim
Homework # 5 Solution
Oct. 8, 2014
Problem 1
1. 1) The utility level that a consumer consumes the bundle (2,1) is 4. Thus the equation for
the ind
Microeconomic Theory
ECON 3104 Fall 2014
Jae-Yoon Kim
Homework # 6 Solution
Oct. 16, 2014
Problem 1
1. 1) He loves to consume both goods in a fixed proportion that is 4 units of x2 for every unit
of x
1. a4(2.17=2+z= atxtlv w x1: urL.
at me. W 1
\ m=J=-=~I.
u
., '2. 4 5 7"
2. urrzzvlo . 7a=~2xmo . Since . g r . ; cfw_e -
Shw In H' IL um In "are alumni Luna. 75' (9(,*,0(,*)= (010)-
30 GT (0) : Jhe k