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
M
Econ 301 Review 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 utility function U=FL. Food sells for $2 per
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
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/
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.
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 ba
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 transpor
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
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
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
Solution to HW 3 Econ 301
1.
Q 4Q
=
TC 2 +
9 9
2Q
TC =
3
2.
From the production function we see that Q = 5 L , so the amount of labor required to produce
Q is given by L =
Q2
. The short run total co
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: Inpu
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
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 pro
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
Co
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, wh
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 s
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 _
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 wel
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
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?
Constra
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. I
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 ra
Econ 301 Microeconomics HW 3
Due Wed Nov 2 Before Class
1. Consider a production function of two inputs, labor and capital, given by Q = (L + K)2. The
marginal products associated with this production
Econ 301 Microeconomics Review 2
1. Let Q = 12(KL)2 K4. What is the average product of capital? Does this production function
exhibit increasing, constant, or decreasing returns to scale?
2. Let Q = L
Econ 301 Microeconomics
Lecture 11. Capturing Surplus
Professor Mian Dai
A road map for todays lecture
Price-discrimination
First Degree
Second Degree
Third Degree
Review: Monopoly firm
Firm choose Q*
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
Compe
Econ 301 Microeconomics HW 2
Due May 16 Before Class
1. Consider a production function of two inputs, labor and capital, given by Q = (L + K)2. The
marginal products associated with this production fu