Econ 73-250A-F
Spring 2001
Prof. Daniele Coen-Pirani
Problem Set #1
As indicated on the course syllabus, this problem set is due at the beginning of your recitation
section on Friday, February 2.
Exercise #1. In 1998, the Adams family was living in Concor
Econ 73-250A-F Spring 2001 Prof. Daniele Coen-Pirani Problem Set #6 This problem set is due at the beginning of your CLASS (not recitation) on Monday, April 30. There are three questions on the homework worth a total of 100 points. The points assigned to
Econ 73-250A-F
Spring 2001
Prof. Daniele Coen-Pirani
Suggested Answers to Problem Set #4
Please refer to the end of the document for all diagrams.
Exercise 18.0. First part:
f (x1 ,x2 )
x1 + 2x2
ax1 + bx2
50x1 x2
MP1 (x1 ,x2 )
1
a
50x2
MP2 (x1 ,x2 )
2
b
5
Econ 73-250A-F Spring 2001 Prof. Daniele Coen-Pirani Suggested Answers to Problem Set #5 Please refer to the end of the document for all diagrams. Exercise #1. (a) The equation of the marginal cost curve is M C(y) = y/2. The equation of the average cost c
Econ 73-250A-F Spring 2001 Prof. Daniele Coen-Pirani Problem Set #5 This problem set is due at the beginning of your CLASS (not recitation) on Monday, April 23. There are three questions on the homework worth a total of 100 points. The points assigned to
Econ 73-250A-F
Spring 2001
Prof. Daniele Coen-Pirani
Suggested Answers to Problem Set #6
Please refer to the end of this document for the Figures.
Exercise #1. (a) The optimal level of output is found at the point where marginal cost equal
marginal revenu
Econ 73-250A-F
Spring 2001
Prof. Daniele Coen-Pirani
Problem Set #3
As indicated on the course syllabus, this problem set is due at the beginning of your recitation
section on Friday, March 16. There are three questions on the homework worth a total of 10
Econ 73-250A-F Spring 2001 Prof. Daniele Coen-Pirani Suggested Answers to Problem Set #3 Please refer to the end of the document for all diagrams. Exercise #1. (a) We first need to determine the demand function of an individual EFF. Given the standard Cob
Econ 73-250A-F Spring 2001 Prof. Daniele Coen-Pirani Solution to Problem Set #1 Please, find all the graphs at the end of this document. Exercise #1. (a) What is the relative price of hamburgers in terms of clothes in Concord in 1998? The relative price o
Econ 73-250A-F
Spring 2001
Prof. Daniele Coen-Pirani
Suggested Answers to Problem Set #2
Please refer to the end of this document for all graphs.
Exercise #1. (a)
MU1 (x1 ,x2 ) =
U (x1 ,x2 )
= (x2 + 1)2 .
x1
(b)
MU2 (x1 ,x2 ) =
U (x1 ,x2 )
= 2x1 (x2 +
Econ 73-250A-F
Spring 2001
Prof. Daniele Coen-Pirani
Problem Set #2
As indicated on the course syllabus, this problem set is due at the beginning of your recitation
section on Friday, February 9.
Exercise #1. Annas preferences over consumption bundles (x1