Econ 1210 - Summer 2013
Homework 2
1. Mankiw and Balls book: Chapter 4, question 4 (page 111).
a. To find the average inflation rate the money demand function can be expressed in terms of growth
rates:
% growth Md % growth P = % growth Y.
The parameter k
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0.1 Suppose the demand function is linear:
p=ab(11+12)
and firms face the same (constant) average and marginal cost: C] (11) = CI] and C2 (1;) = (21-2. Assume that a. > c.
Derive the reaction functions of the two fim13. Plot them in a gure and show that a
Economics 1110: Intermediate Microeconomics
Fall 2013
Homework 3 Answer Key
1. Consider a world with two agents: A and B. The utility of A is = and
0
the utility of B is = min cfw_ . The initial endowments are (0 ) = (0 3) and
0
(0 ) = (4 1).
a. Draw the
Economics 1110: Intermediate Microeconomics
Spring 2013
Homework 1 Answer Key
Professor: Pedro Dal B
1. Consider two utility functions (1 2 ) and (1 2 ) such that (1 2 ) =
( (1 2 ) with () being a strictly increasing function. Prove that both utility fun
Problem Set 1
Nickolai Riabov
Due: February 7, 2014, 5PM
This assignment is due at the date and time indicated above. Please submit your assignment
electronically using the Google form, as stated in the Syllabus. Do not forget to check the box at
the bott
Econ 1210 - Summer 2013
Solutions to Homework 1
1. Mankiw and Balls book: Chapter 2, question 4 (page 41).
a. The airplane sold to the Air Force counts as government purchases because the Air Force is part of
the government.
b. The airplane sold to Americ
Economics 1110: Intermediate Microeconomics
Fall 2013
Homework 1
(Due September 20th in your TA conference)
Professor: Pedro Dal B
1. Consider two utility functions (1 2 ) and (1 2 ) such that (1 2 ) =
( (1 2 ) with () being a strictly increasing functio