TITLE: Measuring Three Phase AC Electric
YOUR NAME: Sean Finnerty
SECTION: 60
PARTNERS: Mayank Gureja, Richard Blevins, Preston Hults
DATE PERFORMED: 07/15/11
DATE DUE: 07/22/11
DATE RECEIVED:
Title
Measuring Three Phase AC Electric
Object
The objective o
Econ 301 Practice for Midterm Exam 1
1.
A consumer can spend her fixed income of $200 on two products, food (F) and luxuries
(L). The consumers tastes are represented by the following utility function:
U = FL
Food sells for $2 per unit and luxuries sell f
HW#4 Solution
1. a)
Starting with the tangency condition we have
MPL w
=
MPK r
L1/ 2 + K 1/ 2 L1/ 2 2
=
L1/ 2 + K 1/ 2 K 1/ 2 1
K
=4
L
K = 4L
Plugging this into the total cost function yields
= L1/ 2 + (4 L)1/ 2
Q
Q = 3L1/ 2
2
2
Q = 9L
Q
L=
9
Insertin
Homework#1 Solution
1
a)
Substituting the values of R and T, we get
Demand : Q d = 70 2 P
Supply : Q s = 14 + 5 P
In equilibrium, 70 2P = 14 + 5P, which implies that P = 12.
Substituting this value back, Q = 46.
b)
c)
Elasticity of Demand = 2(12/46), or 0
Econ 301 Practice for Midterm Exam 1
1.
Let Q = 12(KL)2 K4.
a. What is the average product of capital?
b. Does this production function exhibit increasing, constant, or decreasing
returns to scale?
2.
Let Q = L1/3K2/3, where Q is output, L is labor, and K
Economics 301: Microeconomics
Fall Quarter, 2012
Homework#6
Due on Thursday Dec 6
1. A pipeline transports gasoline from a refinery at point A to destinations at R and T.
The marginal cost of transporting gasoline to each destination is MC = 2. The pipeli
Fall 2013 Econ 301 Microeconomics HW 4
Due Thursday Nov 7 by 2 PM
1. Consider a production function of two inputs, labor and capital, given by Q = (L + K)2. The
marginal products associated with this production function are as follows:
Let w = 2 and r = 1
Fall 2013 Econ 301 Microeconomics HW 1
Due Thursday Oct 10 by 2 PM
1. Consider the following demand and supply relationships in the market for golf balls: Qd = 90
2P 2T and Qs = 9 + 5P 2.5R, where T is the price of titanium, a metal used to make golf
clu
Econ 301 Microeconomics HW 1
Due Wednesday Oct 12 Before Class
1. (4 points) Consider the following demand and supply relationships in the market for golf balls:
Qd = 90 2P 2T and Qs = 9 + 5P 2.5R, where T is the price of titanium, a metal used to
make go
EconS 301REVIEW EXERCISES FOR MIDTERM #1Chapter 2 Review
Questions2.12.Consider a linear demand curve, Q = 350 7Pa)Derive the inverse
demand curve corresponding to this demand
curve.QPQPPQ715035077350=(Remember, the inverse demand curve is the
demand curv
Econ 301 Microeconomics HW 2
Due Wednesday Oct 26 Before Class
1. A paint manufacturing company has a production function Q = K + L. For this production
function MPK = 1 and MPL =
1
. The firm faces a price of labor w that equals $1 per unit and a
2
price
Econ 301 Microeconomics
Lecture 6. Theory of Demand-cond
Professor Mian Dai
A road map for todays lecture
Review: how do we derive demand curve (optimal
bundle)
How price affect consumer welfare
Compensating Variation (CV)
Equivalent Variation (EV)
Pa
Econ 301 Microeconomics
Lecture 8. Production and cost minimization
Professor Mian Dai
A road map for todays lecture
Cost minimization problem
Interior and corner solution
Comparative statics: Input demand
Short run vs. long run
Cost minimization in t
Econ 301 Microeconomics
Lecture 2. Demand, Supply and Equilibrium
Analysis
Professor Mian Dai
A road map for todays lecture
What are demand and supply?
What is elasticity? How it is related to the shape of
supply and demand curve?
Demand
Demand Curve
Econ 301 Microeconomics
Lecture 6. Inputs and production functions
Professor Mian Dai
A road map for todays lecture
What is production function
Margin product, average product isoquants, marginal rate of
technical substitution
What is return to scale?
Econ 301 Microeconomics
Lecture 5. Theory of Demand
Professor Mian Dai
A road map for todays lecture
How to derive demand from optimal choice.
How income and prices affect demand
Substitution vs. Income effect
Last lecture
Consumers optimal consumptio
Econ 301 Microeconomics
Lecture 1. Analyzing Economic Problems
Professor Mian Dai
A road map for todays lecture
What are the key themes of microeconomics?
What are the key analytical tools?
Constrained Optimization
Equilibrium Analysis
Comparative St
Externalities, Common
Resources, and Public
Goods
Julie Becher, PhD
Outline
Externalities
Common property resources
Public goods
Externalities
Negative externalityan action by a producer or consumer that harms other parties but is not accounted for in
Consumers
Julie Becher, PhD
Outline
1) Consumer Preferences
2) Indifference Curves
3) Utility
4) Budget Constraint
Consumer Preferences
Bundle or Basket:
Example 1: 12 Days of Christmas is a well known song
about a bundle
1 partridge in a pear tree
Demand
Julie Becher, PhD
Outline
1. Utility maximization: example of a corner
solution
2. Price indexes and the CPI
3. Demand functions and consumption curves
4. Income and substitution effects of price change
Utility Maximization:
Example of a Corner
Costs (continued)
Julie Becher, PhD
Outline
Long run cost continued
Short run profit maximization in perfect competition
Long Run Cost
Economies of scale
if output goes up by X%, cost goes up by _ X%
Diseconomies of scale
if output goes up by X%, co
Market Power
(continued: Part II)
Julie Becher, PhD
Outline
1) Peak load pricing, 2 part tariff, bundling
2) Monopolistic competition
3) Oligopoly
4) Cournot model
5) Bertrand model (time permitting)
Peak load pricing
Peak load pricing
The same mar
Costs
Julie Becher, PhD
Costs in the Short Run
Fixed cost (FC)cost that does not vary with the amount of output
Variable cost (VC)cost that varies with the amount of output
Examples include labor costs, energy costs, and the cost of raw
materials
Costs
Solution to HW 2 Econ 301
1.
a)
First, note that this production function has diminishing MRSL,K. The tangency condition
would imply that 1 / 2 L 1 / 50 or L = 625. Substituting this back into the production function
we see that K = 10 25 = 15. Since the
Microeconomics (ECON 301)
Dr. C. Syropoulos
Homework Assignment #2
DUE DATE (at beginning of class): February 2, 2017
1)
Does the utility function , = + [ , ]+ , where a and b are positive constants,
give the same ordering over bundles as does , ? Explain
ECON 301: Microeconomics
Spring 2015
1
Problem Set 1
Due at the start of class on April 14. You may work with your teammates, but you must turn in
your own version. All solutions should be neatly and clearly written. Be sure to label any graphs
and clearl