EC 3306: Homework 2
Show all your work!
1. (20 points) The utility function
u ( x1 , x 2 ) x1a x 1 a
2
, where
Douglas preferences for tickets to baseball games (good
x1
0 a 1
, represents Cobbie
) and to football games (good
Suppose that Cobbies income i
EC 3306: Homework 2
Show all your work!
1. (20 points) The utility function
u ( x1 , x 2 ) x1a x 1 a
2
, where
Douglas preferences for tickets to baseball games (good
x1
0 a 1
, represents Cobbie
) and to football games (good
Suppose that Cobbies income i
The correct answer for each question is indicated by a
.
Public speaking has
been taught and studied
for thousands of years.
1CORRECT
A) Tr
ue
B) Fal
se
Feedback: Public speaking has been taught and studied around the world for
thousands of years.
Because
ECO 3307
Spring 2016
HOMEWORK 1
Name_
MULTIPLE CHOICE. Choose the one alternative that best completes the statement
or answers the question (60 pts).
1) If C = $500, I = $150, G = $100, NX = $40, and GNP = $800, how much is NFP?
A) -$5
B) $5
C) $10
D) -$1
ECO 3306: Homework 1
Show all your work!
1. (20 points) Write down a budget equation and draw the budget line for each scenario in the
following.
(a) (10 points) Edmund consumes two commodities, namely garbage and punk rock video
cassettes. People pay him