Answer Key to Weekly Assignment 3
1. If the domestic prices for traded goods rose 40 percent over 10 years in China and 25
percent over those same 10 years in the United States, what would happen to a
Assignment #1
Chapter 1
1. A book is to be written by Britney Spears. Batman Books agrees to pay Britney $6 million for
the rights to this not- yet- written memoir. According to one leading publisher,
MicroEconomics Practice Test/Study Guide
1.Which of the following would not shift the demand for good A?
A. drop in price of good A.
b. drop in price of good B.
c. consumer income.
d. change in the le
Chapter 3: Qualitative Demand Analysis
Chapter 3: Qualitative Demand Analysis
Assignment: The regression spreadsheet at the end of chapter.
This chapter includes three important elements:
1.
In contra
1/7/14 IEB Vlreframe
Page 68
SUMMARY
Chapter 02 PowerPoint
This chapter provided an overview of supply and demand and the interaction of these forces. We covered
applications of demand, supply, price
Chapter 2: Market forces Supply & Demand
This chapter includes four important elements:
1. A change in quantity demanded or supplied as a result of a change in the
current price.
This is a movement al
Game Theory
Applied Games
An Example Prisoners Dilemma
Prisoner 2
Prisoner 1
Confess
Quiet
Confess
5 years, 5 years
3 years, 10 years
Quiet
10 years, 3 years
2 years, 2 years
Two prisoners, armed robb
STEPS FOR EXCEL SOLVER FOR COST MINIMIZATION
GENERAL GUIDELINES: Go to TOOLS and look for the SOLVER. If not found, use the ADD IN command to add it. Choose min or max or value of circle, depending on
Production Function Problem
Q=50*K*L^2
Wage rate
Capital Price
Qty of Labor
Qty of Capital
Total Cost
20
60
8.3203393
1.3867212
249.61006
Production Function 4800
Quantity Constraint 4800
MARKET STRUCTURE: STACKELBERG DUOPOLY WITH LINEAR DEMAND AND CONSTANT MARGINAL COST
In the green cells, type each firm's marginal cost from the cost function C(Qi) = ciQi and then PRESS ENTER
1)
Leade
Spreadsheet for linear and log linear demand functions
Linear equation
Year
1988
1989
1990
1991
1992
1993
1994
1995
1996
Average
Q
6
10
13
18
22
24
27
32
36
22.75
Log Linear equation
P
28
25
18
17
15
Econ 650: Problem Set 1
1.
(a)
i.
Notation:
S: seller
B: buyer
h r : high price and repair
h r : high price and not to repair
lr : low price and repair
l r : low price and not to repair
b: buy
b : not
1/7/14 IEB Vlreframe
SUMMARY
Chapter 04 PowerPoint
In this chapter, we provided a basic model of individual behavior that enables the manager to understand the
impact of various managerial decisions o
Answer Key to Weekly Assignment 6
1. Assume that two companies (C and D) are duopolists that produce identical products.
Demand for the products is given by the following linear demand function:
P = 6
Answer Key to Weekly Assignment 5
1. Zar Island Gas Company is the sole producer of natural gas in the remote island country
of Zar. The company's operations are regulated by the State Energy Commissi
Answer Key to Weekly Assignment 4
1. Cool-Aire Corporation manufactures a line of room air conditioners. Its break-even sales
level is 33,000 units. Sales are approximately normally distributed. Expec
Answer Key to Weekly Assignment 2
1. The economic analysis division of Mapco Enterprises has estimated the demand function
for its line of weed trimmers as
QD = 18,000 +0.4N 350PM + 90PS
where, N = nu
Answer Key to Weekly Assignment 1
1. The British Automobile Company is introducing a brand new model called the "London
Special." Using the latest forecasting techniques, BAC economists have developed
1/7/14 IEB VWreframe
SUMMARY
Chapter 05 PowerPoint
In this chapter, we introduced the production and cost inctions, which summarize important information about
converting inputs into outputs sold by a
ECON 650: Problem Set 2
1.
Proof:
k
Let S i= cfw_ s j 1
be the set of pure strategies for player i,
strategy for player i, and i (s j)
in the mixed strategy. Then:
i
be a mixed
be the probability that
ECON 650: PROBLEM SET 3
1.
a.
Firm is profit:
[
n
ui=ln [ k i ] + ln K k j
j=1
]
The FOC:
u i
1
=0
ki
ki
1
=0
n
K k j
j=1
At the symmetric NE:
k i=k
Thus:
k=
1
1
=0
k K n k
K
n+1
The total emissio
Oil Leaps Into a Bull Market
Market whipsaws after moving into a bear market on Aug. 2
By TIMOTHY PUKO, SARAH MCFARLANE and JENNY W. HSU
Updated Aug. 18, 2016 3:52 p.m. ET
Oil climbed into bull market
Oil Companies Need Prices to Keep
Rising Past $50 a Barrel
Industry is in the midst of a two-year slump
By SARAH KENT, SELINA WILLIAMS and ERIN AILWORTH
Aug. 18, 2016 2:02 p.m. ET
LONDONA rally that p
THE WALL STREET JOURNAL
Venezuela Inflation Jumps Sharply
as Shortages Rise
By
KEJAL VYAS
Jan. 11, 2013 5:23 p.m. ET
CARACASVenezuela's consumer prices surged in December at the fastest pace in nearly