Econ 202-03: Principles of Microeconomics
1
Homework 1
Due: Tuesday, September 15th
1. Identify whether each of the following statements is a microeconomic or a macroeconomic
issue.
a. Interest rates are low, so Bob decides to buy a storefront to open a c

Econ 202-03: Principles of Microeconomics
1
Homework 4
Due: Tuesday, October 6th
Please have answers on separate sheet (the table can be filled in on this sheet) and be sure to show
all work done for deriving answers.
1. Consider two goods, cookies and pr

Econ 202-03: Principles of Microeconomics
1
Homework 1
Due: Tuesday, September 15th
1. Identify whether each of the following statements is a microeconomic or a macroeconomic
issue.
a. Interest rates are low, so Bob decides to buy a storefront to open a c

Econ 202-03: Principles of Microeconomics
1
Homework 6
Due: Thursday, November 5th
Clearly write your answers and be sure to show all work used to derive answers.
1. A local competitive snow cone business sells snow cones in one size for $3 each. It has t

Econ 202-03: Principles of Microeconomics
1
Homework 6
Due: Thursday, November 5th
Clearly write your answers and be sure to show all work used to derive answers.
1. A local competitive snow cone business sells snow cones in one size for $3 each. It has t

Econ 202-03: Principles of Microeconomics
1
Homework 6
Due: Thursday, November 5th
Clearly write your answers and be sure to show all work used to derive answers.
1. A local competitive snow cone business sells snow cones in one size for $3 each. It has t

Econ 202-03: Principles of Microeconomics
1
Homework 7
Due: Tuesday, December 1st
Clearly write your answers and be sure to show all work used to derive answers.
1. Which of the following markets are oligopolistic? (Answer Yes if it is an oligopoly, No if

Econ 202-03: Principles of Microeconomics
Homework 5
Due: Thursday, October 29th
Be sure to show all work used to derive answers, and clearly write your answers and graphs.
1. Suppose that demand and supply for cigarettes are represented by the following

2.
a) A firm will make a profit when the price it charges exceeds the average variable cost of
the chosen output level.
False. If the price exceeds the average variable cost, the firm will operate to minimize loss. The
firm will make a profit when the pri

Econ 202-03: Principles of Microeconomics
1
Homework 3
Due: Tuesday, September 29th
Please have answers on separate sheet and be sure to show all work done for deriving answers.
1. College logo T-shirts priced at $15 sell at a rate of 25 per week, but whe