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
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
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
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
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