73-250 - Intermediate Microeconomics
Recitation #1 - January 19, 2001 Exercise #1. Consider an individual that derives utility from two "goods". Good 1 is the number of hours of leisure that the individual "consumes" in a given week. Good 2 is a basket of

73-250 - Intermediate Microeconomics
Recitation #4 - February 9, 2001 Exercise #1. Tom's preferences over consumption bundles of the form (x,y) are represented by the utility function u (x,y) = xy, where x is the quantity of good x that Tom consumes and y

73-250 - Intermediate Microeconomics
Recitation #3 - February 2, 2001
Exercise #1. Let Julias preferences over consumption bundles (x1 ,x2 ) be represented by the
utility function
4
1
u(x1 ,x2 ) = .
x1 x2
In addition, suppose that m = 240, p1 = 8, and p2

73-250 - Intermediate Microeconomics
Recitation #2 - January 26, 2001
Exercise #1. Some years ago cognitive psychologists started studying how the way dierent
alternatives are presented to individuals aects their choices. Consider the following experiment

Econ 73-250A-F Spring 2001 Prof. Daniele Coen-Pirani Answers to midterm examination #1 Please refer to the end of this document for all graphs. Exercise #1. (a) For this question you could have proceeded in different ways: One way. Maximize a Cobb-Douglas

Econ 73-250A-F
Spring 2001
Prof. Daniele Coen-Pirani
TOPICS COVERED IN MIDTERM EXAMINATION #1
Please notice: In general, you are required to know the material that has been covered in class
for the midterm exam of February 19. Sometimes the textbook has m

Econ 73-250A-F Spring 2001 Prof. Daniele Coen-Pirani MIDTERM EXAMINATION #2 Instructions: This is a closed book and closed notes exam. You may use a calculator if you wish. However, no calculator is needed to answer the questions. There are three question

Econ 73-250A-F Spring 2001 Prof. Daniele Coen-Pirani TOPICS COVERED IN MIDTERM EXAMINATION #2 Please notice: In general, you are required to know the material that has been covered in class for the midterm exam of April 9. Sometimes the textbook has more

Econ 73-250A-F Spring 2001 Prof. Daniele Coen-Pirani Suggested answers to Midterm Examination #2 Please refer to the end of this document for all graphs. Exercise #1. (a) The equilibrium price and quantity can be found by setting quantity supplied equal t

Econ 73-250A-F Spring 2001 Prof. Daniele Coen-Pirani MIDTERM EXAMINATION #1 Instructions: This is a closed book and closed notes exam. You may use a calculator if you wish. However, no calculator is needed to answer the questions. There are three question