S O L U T I O N S
11
One Input and One Output: A
Short-Run Producer Model
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructors. (En
S O L U T I O N S
4
Tastes and Indifference Curves
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructors. (End-of-Chapter exercises
S O L U T I O N S
11
One Input and One Output: A
Short-Run Producer Model
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructors. (En
Lecture 6: (Ch. 4; 124-127)
Quiz:
1. U = 2X + 3Y, I=10, Px=1, Py=2, Find X* and Y*.
2. Indirect Utility is a function of what?
*[I clicker] version of the quiz:
1. U = 2X + 3Y, I=10, Px=1, Py=2, Find X* and Y*.
A. X*=10, Y*=0
B. X*=0, Y*=10
C. X*=5, Y*=10
S O L U T I O N S
6
Doing the Best We Can
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructors. (End-of-Chapter exercises with
solu
Lecture #9: (Ch. 5) p. 133-145
Learning Objectives:
1. Relationship between Hicksian and Marshallian demand
2. Income and substitution effect
3. Slutsky equation
4. Giffen goods
Math Review
If we have a situation where:
h(x,y) = f(x, y, g(x,y)
Then we can
S O L U T I O N S
16
General Equilibrium
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructors. (End-of-Chapter exercises with
solut
S O L U T I O N S
8
Wealth and Substitution Effects in Labor
and Capital Markets
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructo
Profits Problem Set 10 Econ. 380
R. Pope Due: April 8 W2011 Less Technical 1. TFU For a competitive firm, a doubling of inputs with fixed input prices must lead to a doubling of profit. 2. A city imposes a fixed fee on firms to operate. TFU. The fee will
The Slutsky-Equation and Various Elasticity Calculations R. Pope In Figure 5.3 of the text, a price change is decomposed into income and substitution effects. This turns out to be a very important exercise so stay with it. In the Figure the price of x fal
S O L U T I O N S
5
Different Types of Tastes
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructors. (End-of-Chapter exercises with
S O L U T I O N S
9
Demand for Goods and Supply of Labor
and Capital
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructors. (End-of-
S O L U T I O N S
12
Production with Multiple Inputs
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructors. (End-of-Chapter exercise
S O L U T I O N S
4
Tastes and Indifference Curves
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructors. (End-of-Chapter exercises
Consumer Choice: Demand Functions, Budget Shares, and Indirect Utility Functions Problem Set 5 Econ. 380 R. Pope Winter 2011 Non-Calculus Problems There is a style of economics problems (questions) called, true, false, uncertain (TFU). That is, one argues
S O L U T I O N S
2
Choice Sets and Budget Constraints
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructors. (End-of-Chapter exerci
S O L U T I O N S
10
Consumer Surplus and Dead Weight
Loss
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructors. (End-of-Chapter ex
S O L U T I O N S
10
Consumer Surplus and Dead Weight
Loss
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructors. (End-of-Chapter ex
S O L U T I O N S
12
Production with Multiple Inputs
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructors. (End-of-Chapter exercise
S O L U T I O N S
22
Asymmetric Information in Competitive
Markets
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructors. (End-of-Ch
S O L U T I O N S
26
Product Differentiation and Innovation in
Markets
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructors. (End-o
S O L U T I O N S
27
Public Goods
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructors. (End-of-Chapter exercises with
solutions in
S O L U T I O N S
7
Income and Substitution Effects in
Consumer Goods Markest
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructors.
S O L U T I O N S
3
Choice Sets in Labor and Financial
Markets
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructors. (End-of-Chapte
S O L U T I O N S
17
Choice and Markets in the Presence of
Risk
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructors. (End-of-Chapt
S O L U T I O N S
9
Demand for Goods and Supply of Labor
and Capital
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructors. (End-of-
S O L U T I O N S
26
Product Differentiation and Innovation in
Markets
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructors. (End-o
S O L U T I O N S
27
Public Goods
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructors. (End-of-Chapter exercises with
solutions in
S O L U T I O N S
17
Choice and Markets in the Presence of
Risk
Solutions for Microeconomics: An Intuitive
Approach
Apart from end-of-chapter exercises provided in the student Study Guide, these
solutions are provided for use by instructors. (End-of-Chapt