Professor DeAngelo
Managerial Economics
Practice Exam 1
1)
Here are the costs of going to college: tuition $5,000; books $200; housing $1,000; food $1,000;
lost income from work $10,000. Studying and work are equally desirable in your mind. Suppose that y
Dr. Dakshina De Silva
ECON 3320 (Spring 2007- Exam # 1)
Name ……………………….
ID# ……………………….
Form-1
Suppose demand and supply equations are given by:
Qd = 600 – 3Px and QS = 3Px
1) Suppose a $ 100 excise tax is imposed on the good. The new price received by the
Lecture Notes September 10, 2013
Chapter 2
Quantitative Demand Analysis:
o Elasticity and Regression Analysis
Elasticity: Measures the responsiveness of one variable to a
change in another variable.
Three main type
Lecture Notes September 3, 2013
Going over homework
o (1) 1-Quantity demanded is a function of these variables
o (2) 2-Solve for ! ( )
Does the law of demand hold?
Is there a negative relationship?
o Yes
o Take
Lecture Notes October 8, 2013
Exam over Pages 1-153
Does the law of demand hold? (Book 2-Sheet 1)
o Yes, the coefficient on price is negative, can say with statistical
confidence
What type of good do we h
Lecture Notes September 24, 2013
*Review*
o Properties of well behaved indifference curves
Completeness
Non-Satiation (More is better)
Diminishing MRS
Transitivity
Budget constraints
o Shows the set of affordable b
ECO 3320 Managerial Economics
Homework 3 Quantitative Demand Analysis
Due: Tuesday 9/24
1) Textbook pg. 79 #3 (Baye pg. 115)
Hint: Look at demonstration problem 3-3 for help in solving this problem.
a. The own price elasticity of demand is simply the coef
Lecture Notes September 5, 2013
Supply
o Law of supply: There is a positive relationship between price and
quantity supplied. (Supply increases right and decreases left)
Lecture Notes August 27, 2013
Chapter 1
Math review
o Terminology
Y=f(x,z,t)- Y is the dependent variable, f is the function of, x,z,t is the function.
When x,z,t changes Y will change.
Ex. Effects of quantity
Lecture Notes October 1, 2013
Production (Some definitions that should be familiar)
o Short-run: A time period in which there is at least one fixed input.
Example: Building Lease, Network Infrastructure.
o Long-run: A
Exam 1 Review
Math review
o Terminology
Y=f(x,z,t)- Y is the dependent variable, f is the function of,
x,z,t is the function. When x,z,t changes Y will change.
Ex. Effects of quantity demand-Prices, Income, pri
Chapter 5 (153-186)
o Short-Run Costs
Defined as the period over which the amounts of some inputs
are fixed. In the short run, managers are free to alter the use of
variable inputs, but are stuck with existing le
Practice Questions - Chap. 10, 11 and 12
ECON3320
Instructor: Ibrahim Alnaser
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) When firms price discriminate they
A) get additional surplus from consu
Lecture Notes September 17, 2013
Recall: we sue the method of OLS to estimate an equation
!
!
o Ex. ! = ! + ! ! + ! which yields the estimates ! = ! + ! !
every time price changes, Beta 1 changes by a half
o *Interp
Lecture Notes September 19, 2013
Advance Regression Topics:
o Number of observations vs amount of variables
You want more than 30 observations
o Different types of data
Cross sectional data (Project Focus)
Time
Chapter 3 Problems
Use the following information for Boxware Corporation to answer the next four questions: Sales price per unit Variable cost per unit Average production Total fixed costs 1. $190 $ 80 1,500 units per month $55,000 per month
What is
Managerial Economics Summer II, 2012
Practice Test 2
1. Given that income is $500 and PX = $20 and PY = $5, what is the market rate of substitution
between goods X and Y?
A. 100.
B. -4.
C. -20.
D. 25.
2. The maximum quantity of good X that is affordable i
Professor DeAngelo
Problem Set 1
Managerial Economics
Due Date: September 16, 2014
1) The demand for wind turbines is given by the following demand curve, Q = 100-.5P. The
supply of wind turbines is given by the following P = 20 + 3Q.
a) What is the equil
Professor DeAngelo
Managerial Economics
Practice Exam 1
1)
Here are the costs of going to college: tuition $5,000; books $200; housing $1,000; food $1,000;
lost income from work $10,000. Studying and work are equally desirable in your mind. Suppose that y