REVIEW FOR QUIZ 2
Econ 11, Sections 2A/2B, Week 4
Matt Miller
This week we will review a few items that are likely to come up on the quiz on Thursday. I include some
of the answers here, but the remainder (along with graphs) will be drawn up in section.
1
REVIEW FOR QUIZ 3
Econ 11, Sections 2A/2B, Week 6
Matt Miller
This week we will review a few items that are likely to come up on the quiz on Thursday. I include some
of the answers here, but the remainder (along with graphs) will be drawn up in section.
1
DRIVERLESS CARS AND KINKED DEMAND
Econ 11, Sections 2A/2B, Week 1
Matt Miller
Google (along with many car manufacturers) has invested heavily in producing driverless (or autonomous)
cars. This exercise will use this market to investigate some of the lectu
Short Answer
October 24, 2013
a)
M RS =
px
py
=
0.5x0.5 y 0.5
0.5x0.5 y 0.5
=
1
2
=
y
x
= 0.5 = y = 0.5x
x + 2y = 1000 = x = 500 and y = 250
b)
M RS =
px
py
=
0.5x0.5 y 0.5
0.5x0.5 y 0.5
=
1
1
=
y
x
= 1 = y = x
x + y = 1000 = x = 500 and y = 500
U = 5000.