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ECON 302  INMD MICROEC ANLY  Penn State Study Resources
 Penn State University (Penn State, PSU)
 KURRE%2C JAMES ANTHO
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302HW1
School: Penn State
Course: INMD MICROEC ANLY
1. (20 total points) Suppose the demand for a product is given b y QD = 2 000  25P. a) (10 points) Calculate the Price Elasticity o f Demand when the price is $30 . . 16p =20QV  0,> c.  p:;:t?JO .1: (~(J 7: =  Yz'5 ~?o) 7: :. l~(%S1 Qp ~ JOIn

Exam 1 Version B Answer Key
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Exam 1 McLeod NAME _ PSU ID # _ PLEASE ANSWER ALL QUESTIONS IN THE SPACE PROVIDED. 1. (24 total points) Suppose there are two consumers, A and B, and two goods, X and Y. Consumer A is given an initial endowment of 1 units of good X and 5 units of

Econ302HW3
School: Penn State
Econ 302 Homework 3 Read these instructions carefully! Carefully answer each of the questions below You can write or type your answers for the questions Please put your name and PSU ID number at the top of the 1st page You may use as many sheets of paper

Homework_1_Answer_Key
School: Penn State
Econ 302 Homework #1 McLeod Due in class Wednesday, September 11th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be seven separate sheets of paper. After you have written your answers, please staple the seven

Homework #2 Answer Key
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 WC Homework 2 Answer Key 1. (20 points) Suppose a consumer views two goods, X and Y, as perfect complements. Her utility function is given by U = MIN [X, 2Y]. Sketch the graph of the consumers indifference curve that goes through the bundle X = 6

Answer_Key_Homework_2
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Homework #2 McLeod Due in class Monday, February 8. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be five separate sheets of paper (including the cover sheet). After you have written your answers, plea

Exam 1 Version A Answer Key Copy
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Exam 1 McLeod NAME _ PSU ID # _ PLEASE ANSWER ALL QUESTIONS IN THE SPACE PROVIDED. 1. (24 total points) Suppose there are two consumers, A and B, and two goods, X and Y. Consumer A is given an initial endowment of 3 units of good X and 5 units of

Answer_Key_Homework_3
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Homework #3 McLeod Due in class Monday, March 1st. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be four separate sheets of paper (including the cover sheet). After you have written your answers, pleas

8429533
School: Penn State
Suppose a consumer has preferences represented by the utility function U(X,Y) = MIN[X,3Y]. Suppose PX = 1 and PY = 2. Draw the Income Consumption Curve for this consumer for income values M = 100, M = 200, and M = 300. Your graph should accurately draw th

Homework_1_Answer_Key
School: Penn State
Course: Micro
Econ 302 Homework #1 McLeod Due in class Wednesday, January 29th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. After you have written your answers, please staple the seven sheets together at the top lefthand corner. The f

Homework_3
School: Penn State
Course: INTERMEDIATE MICROECONOMIC ANALYSIS
Econ 302 Homework #3 McLeod Due in class Wednesday October 24th. Name: YOO, JONGJAE ID #: 918922528 Instructions: Please Read Carefully Please print out this form. There should be four separate sheets of paper (including the cover sheet). After you have w

Homework_1_Answer_Key
School: Penn State
Course: INTERMEDIATE MICROECONOMIC ANALYSIS
Econ 302 Homework #1 McLeod Due in class Wednesday, September 12th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be seven separate sheets of paper. After you have written your answers, please staple the seven

Homework
School: Penn State
Course: INTERMEDIATE MICROECONOMIC ANALYSIS
Econ 302 Homework #1 McLeod Due in class Wednesday, September 12th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be seven separate sheets of paper. After you have written your answers, please staple the seven

Answer_Key_Homework_6
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Homework #6 McLeod Due in class Friday, April 30th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be six separate sheets of paper (including the cover sheet). After you have written your answers, pleas

Homework 4 Answer Key
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Homework #4 McLeod Due in class Wednesday, November 6th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. The first sheet is intended only as a cover sheet. Do not write anything on the first sheet except your name an

Answer_Key_Homework_5
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Homework #5 McLeod Due in class Monday, April 12th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be four separate sheets of paper (including the cover sheet). After you have written your answers, plea

Homework_2_Answer_Key
School: Penn State
Course: Micro
Econ 302 Homework #2 McLeod Due in class Wednesday, February 19th. Name _ ID # _ Instructions: Please Read Carefully Please print out this assignment and answer each question on the page provided. If you need extra space, you may use the back of the sheet

180470_12541_1_TM_TM_MF_TTs020313831142part2
School: Penn State
Name _ Date_ last 4 PSU ID _ Economics 304 Homework  Lesson 8 100 points total Instructions: Please show all work or points will be taken off. Good luck! 1. (65 points total) Suppose the real money demand function is: Md/P 1500 0.2 Y 10,000 (r e). Assume

Econ3028429533
School: Penn State
Suppose a consumer has preferences represented by the utility function U(X,Y) = MIN[X,3Y]. Suppose PX = 1 and PY = 2. Draw the Income Consumption Curve for this consumer for income values M = 100, M = 200, and M = 300. Your graph should accurately draw th

Answer_Key_Homework_4
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Homework #4 McLeod Due in class Monday, March 22nd. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be four separate sheets of paper (including the cover sheet). After you have written your answers, plea

Quiz 3
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Quiz 3 McLeod Name _ ID # _ 1. Suppose the market supply and demand for softball gloves in Happy Valley are given by: Demand: Q = 480 10P Supply: Q = 180 + 12P A) (2 points) Calculate the equilibrium price and quantity of softball glove

8420776
School: Penn State
Suppose a consumer views two goods, X and Y, as perfect complements. Her utility function is given by U = MIN [X, 2Y]. Sketch the graph of the consumers indifference curve that goes through the bundle X = 6 and Y = 5. Put the amount of Y on the vertical a

Quiz 310
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 McLeod Quiz 2 Name _ ID # _ 1. (8 points) Calculate the price elasticity of demand for each of the following situation: a) Demand is given by Q = 50 2P, and P = 20. 4 b) Demand is given by Q = 80 5P, and P = 6. 3/5 or .6 2. (8 points

ECON302_PennState_FinalExamKey
School: Penn State
Course: INMD MICROEC ANLY
1. louantity lo 11 12 13 11~]ve lire lAFe lAve lAre lMe I l~@JDEJEJDu IDD~CJCJDD IDDDCJ~DD IDDDCJCJD~ >rrect Answer( s): louantity lFe live lR JIAFe lAve lAre lMe I lo l ~@J[filDDEJD 11 12 13 l ~J~[fil~[fil[Q] l ~CEJ[Ifil~[JQJ l~ITfil~lli:J~ 2. (16 total

Homework_4
School: Penn State
Course: Intermediate Microeconomics
Econ 302 Homework #4 McLeod Due in class Wednesday, November 7th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. The first sheet is intended only as a cover sheet. Do not write anything on the first sheet except your name an

Homework_4
School: Penn State
Course: INTERMEDIATE MICROECONOMIC ANALYSIS
1. (20 points) Suppose a monopolist can purchase Labor at a price w = 36 and can purchase Capital at a price r = 25. The monopolists production function is given by Q = L1/2K1/2. The demand facing the monopolist is given by P = 180 3Q. a) What is the Mono

Homework 2 Answer Key Copy
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Homework #2 McLeod Due in class Wednesday, September 25th. Name _ ID # _ Instructions: Please Read Carefully Please print out this assignment and answer each question on the page provided. If you need extra space, you may use the back of the shee

Final Exam Preview
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Final Exam Preview Summer 2013 Thursday, December 19th, 2:304:20 100 Thomas/ 110 Wartik (I will send an email telling you which room to go to, and I will announce this in class on Friday) 7 Large Problems 1. Income/Substitution Effect Problem D

Homework_2_Answer_Key
School: Penn State
Course: INTERMEDIATE MICROECONOMIC ANALYSIS
Econ 302 Homework #2 McLeod Due in class Wednesday, September 26th. Name _ ID # _ Instructions: Please Read Carefully Please print out this assignment and answer each question on the page provided. If you need extra space, you may use the back of the shee

Exam 1 Version C Answer Key
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Exam 1 McLeod NAME _ PSU ID # _ PLEASE ANSWER ALL QUESTIONS IN THE SPACE PROVIDED. 1. (24 total points) Suppose there are two consumers, A and B, and two goods, X and Y. Consumer A is given an initial endowment of 6 units of good X and 1 unit of

Econ 302 Final Exam Review
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Final Exam Thursday 12/19 at 2:304:20 PM Exam make up: 7 long problems 1. Income/Substitution effects a. Determine consumers optimal bundle (X* and Y*) b. Determine the new optimal after a price change (X* and Y*) c. Determine value of M that

Homework_3_Answer_Key (1)
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Homework #3 McLeod Due in class Wednesday October 23rd. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be four separate sheets of paper (including the cover sheet). After you have written your answers,

Aaaaa
School: Penn State
Suppose a consumer has preferences represented by the utility function U(X,Y) = MIN[X,3Y]. Suppose PX = 1 and PY = 2. Draw the Income Consumption Curve for this consumer for income values M = 100, M = 200, and M = 300. Your graph should accurately draw th

Econ_302.7_Syllabus_Spring_2010
School: Penn State
Course: INMD MICROEC ANLY
Course Syllabus for Econ 302, Section 007: Intermediate Microeconomics Penn State, Spring 2010 Instructor: Dr. Mark McLeod Prerequisite: Econ 002 or equivalent Lectures: MWF 2:303:20 010 Sparks Office: 507 Kern Graduate Building Office Hours: MWF 121 or

Homework_5_Answer_Key
School: Penn State
Course: INTERMEDIATE MICROECONOMIC ANALYSIS
Econ 302 Homework #5 McLeod Due in class Wednesday December 12th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be six separate sheets of paper (including the cover sheet). After you have written your answers,

8430803
School: Penn State
Suppose a public referendum is being held on whether or not to levy a tax on cigarettes. Currently, the supply of cigarettes is given by Qs = 900 + 200P. You estimate the demand for cigarettes to be Qd = 1200  50P.You are asked to evaluate the likely ef

Quiz 1
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Quiz 1 McLeod 1. (6 points) For each of the following questions, please answer with either increase, decrease, or remain unchanged. Only one of these answers is correct in each case. Suppose guitars and guitar strings are complements. hap

Homework_2 (1)
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Homework #2 McLeod Due in class Wednesday, September 25th. Name _ ID # _ Instructions: Please Read Carefully Please print out this assignment and answer each question on the page provided. If you need extra space, you may use the back of the shee

Homework 5 Answer Key
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Homework #5 McLeod Due in class Wednesday December 11th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be six separate sheets of paper (including the cover sheet). After you have written your answers,

Homework_3 (1)
School: Penn State
Course: INMD MICROEC ANLY
Econ 102 Homework #3 McLeod Due in class Wednesday, November 14, 2012 Name (please print or type)_ Instructions: Please Read Carefully Please print out this form. There should be three separate sheets of paper. After you have written your answers, please

Homework_1
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Homework #1 McLeod Due in class Wednesday, September 11th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be seven separate sheets of paper. After you have written your answers, please staple the seven

Homework 6
School: Penn State
Course: INMD MICROEC ANLY
C.) The U.S. is running a trade decit which means we are spending beyond our means and China has a surplus making them the savers. We are absorbing (C+I+G) more then we are making (income =Y) therefore we are consuming beyond our income and the opposite

Econ_302_WC_Homework_1
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Homework 1 1. (20 total points) Suppose the demand for a product is given by QD = 2000 25P. a) (10 points) Calculate the Price Elasticity of Demand when the price is $30. E[d]= (dQ/dP).(P/Q) E[d]=25.30/1250=0.6 b) (5 points) What price should t

Homework #3
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Homework 3 Read these instructions carefully! Carefully answer each of the questions below. You need to show your work, not just the final answer You can write or type your answers for the questions Please put your name and PSU ID number at the t

Lesson 5_ Capital Stock, Investment Demand, Goods Market Equilibrium
School: Penn State
Course: INMD MICROEC ANLY

Demand
School: Penn State
Course: INMD MICROEC ANLY
Demand It is important to understand these concepts related to the demand for a product: Quantity Demanded (QD): The amount of a good that consumers are willing to buy at a given price, during a given period of time. In general, the QD of a good will depe

Homework 4
School: Penn State
Course: INMD MICROEC ANLY
D.) Dagwood is now worse o with the falling of the interest rates because as a saver, his future dollar is now worth less so he would be better o spending it now and borrowing in the future. The substitution eect acts to stimulate current consumption by

Lesson4_ ConsumptionSaving, LendingBorrowing
School: Penn State
Course: INMD MICROEC ANLY
Increasing the Real Interest Rate Deriving savings function Example of a savings function

Homework 5
School: Penn State
Course: INMD MICROEC ANLY
D.) K* has changed because if I did not change my capital input then I would not be on the MPK curve anymore nor would I be maximizing my prots. This is because at the higher UC I can only have 70 units of capital if I have more they will be less eective

Q2
School: Penn State
Course: INMD MICROEC ANLY
D.) K* has changed because if I did not change my capital input then I would not be on the MPK curve anymore nor would I be maximizing my prots. This is because at the higher UC I can only have 70 units of capital if I have more they will be less eective

Test 1 Q1
School: Penn State
Course: INMD MICROEC ANLY
D) Dagwood is now worse o because of the rise in real interest rates. The substitution eect is more inuential because he now has to trade more current consumption for future consumption. The income eect is being dominated as he will not have as much in t

Homework 7
School: Penn State
Course: INMD MICROEC ANLY
We can say this is true due to the change in size of the excess reserves. They increases over 800 times due to the FED's open market purchases. While the monetary base has expanded it is no where near the growth of the excess reserves because most of the

Homework 8
School: Penn State
Course: INMD MICROEC ANLY
B) the sher equation is real Interest rates plus ination Equals nominal rate they want to do this to increase the nominal interest rates. d) as the ination expectations increase the current value of the future dollar decreases therefore people get more

Supply
School: Penn State
Course: INMD MICROEC ANLY
Supply And here is important terminology related to supply: Supply Schedule: a table that shows the relationship between Price and QS. When we create a Supply schedule, we hold all of the things that determine QS constant except for the price of the good.

Market Equilibrium
School: Penn State
Course: INMD MICROEC ANLY
MarketEquilibrium The term equilibrium is used in many applications in economics and other disciplines. In all cases, it means essentially the same thing. Equilibrium is a situation where there is no tendency for change. With no government policies, equil

ECON302_HW1_KEY
School: Penn State
Course: INMD MICROEC ANLY
Answer Key Econ 302 WC Homework 1 1. (20 total points) Suppose the demand for a product is given by QD = 2000 25P. a) (10 points) Calculate the Price Elasticity of Demand when the price is $30. = .6 b) (5 points) What price should the firm charge if it

Homework_1_Answer_Key
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Homework #1 McLeod Due in class Wednesday, January 29th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. After you have written your answers, please staple the seven sheets together at the top lefthand corner. The f

ECON302_HW6_Fall14_ANSWERKEYb
School: Penn State
Course: Micro
NAME: _ PSU ID#:_9_ Homework #6 Intermediate Microeconomics ECON 302, Section 003 ANSWER KEY 1. Assume the market demand is Q D = 1,000 0.25 P . A. (4 Points) If marginal cost equals $50 per unit, what is the profit maximizing output and price for a sing

ECON302_HW5_Fall14_ANSWERKEY
School: Penn State
Course: Micro
NAME: _ PSU ID#:_9_ Homework #5 Intermediate Microeconomics ECON 302, Section 003 Due: Wednesday, November 19th, 2014 at 8AM 1. (5 Points) List five separate assumptions about perfectly competitive markets. 1. _Many buyers and seller (Pricetaking behavi

ECON302_HW4_Fall14_ANSWERKEY
School: Penn State
Course: Micro
ANSWER KEY Homework #4 Intermediate Microeconomics ECON 302, Section 003 1. (4 Points) Assume that you have the following production schedule where labor is the only variable input. Fill in the missing values for the MPL and APL for workers 1 4. Number of

MT1_ECON302_FALL14_ANSWERKEY
School: Penn State
Course: Micro
Midterm #1 ECON 302, Section 003 Fall 2014 ANSWER KEY 1. (2 Points) Name all of the phenomena that can cause a change in the quantity demanded of an item. Ceteris paribus, the only thing that can cause a change in quantity demanded is a change in the pric

MT2_ECON302_FALL14
School: Penn State
Course: Micro
Midterm #2 ECON 302, Section 003 Fall 2014 Read the following instructions carefully. Failing to follow them could result in your exam not being accepted. 1. Do not open the test until you are told to do so. 2. You will have two hours to complete the exam

MT1_ECON302_FALL14
School: Penn State
Course: Micro
Midterm #1 ECON 302, Section 003 Fall 2014 Read the following instructions carefully. Failing to follow them could result in your exam not being accepted. 1. Do not open the test until you are told to do so. 2. You will have two hours to complete the exam

MT3_ECON302_FALL14
School: Penn State
Course: Micro
Midterm #3 ECON 302, Section 003 Fall 2014 Read the following instructions carefully. Failing to follow them could result in your exam not being accepted. 1. Do not open the test until you are told to do so. 2. You will have one hour and 50 minutes to com

MT2_ECON302_FALL14_ANSWERKEY
School: Penn State
Course: Micro
Midterm #2 ECON 302, Section 003 Fall 2014 ANSWER KEY 1. (3 Points) Indifference curves and isoquants share some, but not all, mathematical properties. Assume CobbDouglas functions are used to characterize both preferences and production. List two simila

MT3_ECON302_FALL14_ANSWERKEY
School: Penn State
Course: Micro
Midterm #3 ANSWER KEY FALL 2014, ECON 302 (SECTION 003) 1. Assume that a representative and perfectly competitive firm can currently sell its product at $100 and has the following cost functions: C (Q ) = 2Q 2 + 500 MC (Q ) = 4Q A. (3 Points) Given the cu

Homework 2 Answers
School: Penn State
Course: Micro
Econ 302 Homework #2 McLeod Due in class Wednesday, September 25th. Name _ ID # _ Instructions: Please Read Carefully Please print out this assignment and answer each question on the page provided. If you need extra space, you may use the back of the shee

Homework 3 Answers
School: Penn State
Course: Micro
Econ 302 Homework #3 McLeod Due in class Monday, October 27th Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be four separate sheets of paper (including the cover sheet). After you have written your answers, ple

Homework 4 Answers
School: Penn State
Course: Micro
Econ 302 Homework #4 McLeod Due in class Wednesday, November 5th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. The first sheet is intended only as a cover sheet. Do not write anything on the first sheet except your name an

Homework 5 Answers
School: Penn State
Course: Micro
Econ 302 Homework #5 McLeod Due in class Wednesday December 11th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be six separate sheets of paper (including the cover sheet). After you have written your answers,

Homework 1 Answers
School: Penn State
Course: Economic Growth And The Challenge Of World Poverty
Econ 302 Homework #1 McLeod Due in class Friday, September 12th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. After you have written your answers, please staple the seven sheets together at the top lefthand corner. The fi

ECON302_HW6_Fall14
School: Penn State
Course: Micro
NAME: _ PSU ID#:_9_ Homework #6 Intermediate Microeconomics ECON 302, Section 003 Due: Wednesday, December 10th, 2014 at 8AM 1. Assume the market demand is Q D = 1,000 0.25 P . A. (4 Points) If marginal cost equals $50 per unit, what is the profit maximi

ECON302_HW5_Fall14
School: Penn State
Course: Micro
NAME: _ PSU ID#:_9_ Homework #5 Intermediate Microeconomics ECON 302, Section 003 Due: Wednesday, November 19th, 2014 at 8AM 1. (5 Points) List five separate assumptions about perfectly competitive markets. 1. _ 2. _ 3. _ 4. _ 5. _ 2. (3 Points) List thr

ECON302_HW4_Fall14
School: Penn State
Course: Micro
NAME: _ PSU ID#:_9_ Homework #4 Intermediate Microeconomics ECON 302, Section 003 Due: Wednesday, October 29th, 2014 at 8AM 1. (4 Points) Assume that you have the following production schedule where labor is the only variable input. Fill in the missing v

Homework_2_Answer_Key
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Homework #2 McLeod Due in class Wednesday, February 19th. Name _ ID # _ Instructions: Please Read Carefully Please print out this assignment and answer each question on the page provided. If you need extra space, you may use the back of the sheet

Homework_3_Answer_Key
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Homework #3 McLeod Due in class Wednesday March 26th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be four separate sheets of paper (including the cover sheet). After you have written your answers, pl

Homework_4_Answer_Key
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Homework #4 McLeod Due in class Wednesday, April 9th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. The first sheet is intended only as a cover sheet. Do not write anything on the first sheet except your name and I

Homework_5_Answer_Key
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Homework #5 McLeod Due in class Wednesday April 30th. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be six separate sheets of paper (including the cover sheet). After you have written your answers, ple

Course_Syllabus_for_Econ_302.7_Spring_20 (1)
School: Penn State
Course: INMD MICROEC ANLY
Course Syllabus for Econ 302, Section 007: Intermediate Microeconomics Penn State, Spring 2015 Instructor: Dr. Mark McLeod Prerequisite: Econ 102 or equivalent Lectures: MWF 2:303:20 in 010 Sparks Office: 507 Kern Graduate Building Office Hours: MWF 12:1

Micro Exam 0814 2
School: Penn State
Course: INMD MICROEC ANLY
THE PENNSYLVANIA STATE UNIVERSITY Department of Economics Fall 2014 Written Portion of the Candidacy Examination for the Degree of Doctor of Philosophy MICROECONOMIC THEORY Instructions: This examination contains two sections, each of which contains three

Econ_302_Exam_1_Preview1
School: Penn State
Course: INMD MICROEC ANLY
There are 6 problems on the exam: You will be given utility functions and initial endowments. You will be asked to solve for the relative prices that lead to a competitive equilibrium. You will need to be able to illustrate the situation in an Edgeworth

Econ_302_Exam_2__Preview
School: Penn State
Course: INMD MICROEC ANLY
Wednesday, November 13th 8:1510:15 pm Bring Pencil; ID Office Hours Tuesday TBA; Locations TBA 5 Long Problems: Find Total Cost Function; Graph Isocost and Isoquant for a given Q Monopoly Question(QM PM CS PS TS DWL Lerner Index) Perfect Competition Q

ECON302_HW3_Fall14
School: Penn State
Course: Micro
NAME: _ PSU ID#:_9_ Homework #3 Intermediate Microeconomics ECON 302, Section 003 Due: Wednesday, October 15th, 2014 at 8AM 1. Assume that you have the following utility, income, and prices: U = X 2Y 2 M = 100 PX = 2 PY = 2 MU X = 2 XY 2 MU Y = 2 X 2Y A.

ECON302_HW1_Fall14
School: Penn State
Course: Micro
Homework #1 Intermediate Microeconomics ECON 302, Section 003 Due: Wednesday, September 10, 2014 at 8AM Directions: 1. This homework is open book/open note. You may consult web resources and discuss this assignment with other students in the class. Howeve

ECON302_HW2_Fall14
School: Penn State
Course: Micro
NAME: _ PSU ID#:_9_ Homework #2 Intermediate Microeconomics ECON 302, Section 003 Due: Wednesday, September 24, 2014 at 8AM 1. Assume that you have the following demand for pizza, Qd = 20 P + 0.02 Income + 0.25 PHB . A. (3 Points) Is pizza a normal or in

ECON302_HW3_Fall14_ANSWERKEY
School: Penn State
Course: Micro
NAME: _ PSU ID#:_9_ Homework #3 Intermediate Microeconomics ECON 302, Section 003 Due: Wednesday, October 15th, 2014 at 8AM 1. Assume that you have the following utility, income, and prices: U = X 2Y 2 M = 100 PX = 2 PY = 2 MU X = 2 XY 2 MU Y = 2 X 2Y A.

ECON302_HW1_Fall14_ANSWERKEY
School: Penn State
Course: Micro
Homework #1 Intermediate Microeconomics ECON 302, Section 003 ANSWER KEY 1. (4 Points) Write two statements about the Patient Protection and Affordable Care Act, one normative and the other positive. Provide a brief explanation describing why each qualifi

ECON302_HW2_Fall14_ANSWERKEY
School: Penn State
Course: Micro
ANSWER KEY Homework #2 Intermediate Microeconomics ECON 302, Section 003 Due: Wednesday, September 24, 2014 at 8AM 1. Assume that you have the following demand for pizza, Qd = 20 P + 0.02 Income + 0.25 PHB . A. (3 Points) Is pizza a normal or inferior goo

8440173
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Homework #3 McLeod Due in class Friday March 22nd. Name _ ID # _ Instructions: Please Read Carefully Please print out this form. There should be four separate sheets of paper (including the cover sheet). After you have written your answers, pleas

Quiz 4
School: Penn State
Course: INMD MICROEC ANLY
Econ 302 Quiz 4 McLeod Name _ ID # _ 1. (8 points) Suppose a consumer has $900 to spend on either baseballs or baseball gloves. Suppose baseballs cost $5 each and gloves cost $25 each. Draw the budget constraint for this consumer. Please put the n

Q=l
School: Penn State
Need to show work Suppose a firms production function is given by Q = L1/2*K1/2. The Marginal Product of Labor and the Marginal Product of Capital are given by: MPL = , and MPK = . a) If the price of labor is w = 36, and the price of capital is r = 64, ho

Sol13
School: Penn State
1 1True (A B ) = (A ) = so ( ) = This is the requirement for exhaustive 2False ( ) = () + () ( ) = 0.3 + 0.25 0.5 = 0.05 0 So they are not mutually exclusive 2 a) E(R) = 0.39 V(R) = 0.051 Just use E(R) = ( = ) = 0.3 0.1 + = 0.39 For V(R), use () = (2 )

Sol57
School: Penn State
5. 1) P( Dull & Hipster ) = 0.6 0.4 = 0.2 2) P(Granny) = 1 0.6 = 0.4 P(Dull & Granny) = 0.4 * 0.98 = 0.392 P(Flashy & Granny) = 0.4 * (10.98) = 0.008 P( Flashy & Granny  Flashy) = 0.008/(0.4+0.008) = 0.0196 3) P(Dull) = 0.392 + 0.2 = 0.592 6. 30 = 1 for

Table
School: Penn State
Quantity 0 1 2 3 4 5 FC 45 45 45 45 45 45 VC 0 20 35 120 TC 45 65 80 165 AFC 45 22.5 15 11.25 9 AVC 20 17.5 ATC 65 40 24 30 33 MC 10

302hw3
School: Penn State

302q2
School: Penn State
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