Solution for homework 1
1. Each of three people announces a positive integer. If the three integers are dierent, the
person whose integer is closest to twice the average gets $100. If two or more integers are the same,
$100 is split equally between the pe
Solution for homework 3
1. Find all feasible individually rational payos of the innitely repeated Bach or Stravinsky
game as it was described in class.
Solution: The feasible payo lie in the region that has the shape of a triangle with vertices
(2,1), (1,
Homework 4
1. Three players simultaneously decide whether to contribute to the public good. Each player
derives a benet of 1 if at least one player contributes and 0 if none contributes. The cost of
contributing for player i is equal to ci . Each player k
Homework 3
1. Find all feasible individually rational payos of the innitely repeated Bach or Stravinsky
game as it was described in class.
2. Consider the two-player game whose period payo are given in the tables below. The players
choices in the rst peri
Homework 1
1. Each of three people announces a positive integer. If the three integers are dierent, the
person whose integer is closest to twice the average gets $100. If two or more integers are the same,
$100 is split equally between the people whose in
Eco 146: Applied Microeconomic Analysis
Problem Set #1
DUE: Tuesday February 2, 2016 before class
2.5 POINTS IN TOTAL
Click Here for PS1 Q&A Link
Hand-in Instruction:
When you write your answers, please clearly indicate which question number and question
Eco 146: Applied Microeconomic Analysis
Problem Set #6
DUE: Thursday March 31, 2016 before class
Click Here for PS6 Q&A Link
Hand-in Instruction:
When you write your answers, please clearly indicate which question number and question
section you are givi
Eco 146: Applied Microeconomic Analysis
Problem Set #2
DUE: Thursday February 11, 2016 before class
Click Here for PS2 Q&A Link
Hand-in Instruction:
When you write your answers, please clearly indicate which question number and question
section you are g
Eco 146: Applied Microeconomic Analysis
Problem Set #7 SOLUTION
Click Here for PS7 Q&A Link
Hand-in Instruction:
When you write your answers, please clearly indicate which question number and question
section you are giving your answer to.
Please write
Eco 146: Applied Microeconomic Analysis
Homework #4
DUE: Thursday March 10, 2016 before class
Click Here for PS4 Q&A Link
PROBLEM 1 - Risk Preference
(Reference the lecture slides for answers.)
Anne has invested her money in a mutual fund. The realization
Eco 146: Applied Microeconomic Analysis
Problem Set #5
DUE: Thursday March 24, 2016 before class
Click Here for PS5 Q&A Link
Hand-in Instruction:
When you write your answers, please clearly indicate which question number and question
section you are givi
Eco 146: Applied Microeconomic Analysis
Problem Set #3
Solution
Click Here for PS3 Q&A Link
PROBLEM 1. Find Optimal Consumption Choices with Special Preferences
The following questions are follow-ups from the previous problem set. You will be asked to sol
Eco 146: Applied Microeconomic Analysis
Quiz 2 (March 21, 2016)
The total points of this quiz is 0.5.
Fill in the blank or circle the correct answer. You do not need to show steps.
Question 1
Your utility function is U = m2 (m represents the total amount
Eco 146: Applied Microeconomic Analysis
Quiz 1 (Feb 9, 2015)
The total points of this quiz is 0.5 .
Question 1
Consider utility function U (x, y) = 2x + y.
(1) What is the marginal rate of substitution for this utility function?
Answer :
M Ux
2
M RS =
= =
CP 12
Cash Collections
Budget Sales
April
May
June
AR
April
May
June
Total
1
$
62,000 $
$
$
72,000
17,000 $
68,000
$
18,000
56,000
$ 62,000 $ 73,000 $ 158,000
CP 12
Merchandise Purchases
April
May
June
Quarter
Budgeted COGS
$
42,000 $
51,000 $
54,000 $
14
David Zipkin
Econ Definitions
Chapter 1
Scarcity: a situation in which unlimited wants exceed the limited resources available
to fulfill those needs
Economics: the study of the choices people make to attain their goals, given their
scarce resources
Econom
David Zipkin
Econ Definitions
Chapter 1
Scarcity: a situation in which unlimited wants exceed the limited resources available
to fulfill those needs
Economics: the study of the choices people make to attain their goals, given their
scarce resources
Econom
Eco 001 Study Guide: Gunter
Pg 1
Chapter 1: Foundation & Models
We live in a world of Scarcity: unlimited wants, limited resources
Economics: study of the choices everyone makes given their scarce resources
Economic Models: simplified versions of reality