Assignment#2
BPBE, 315
Due 11th October
Katarzyna Bolek
Each 3%
1.
2.
3.
4.
5.
The assumption that preferences are complete requires the consumer
a)
to rank any two baskets.
b)
to say that basket C is preferred to basket A if basket B is preferred to bask
Assignment #5
BPBE, 315
Due 29th November
Katarzyna Bolek
Each 5%
1.
Suppose Joe starts his own business. In the first year the business earns $100,000
in revenue and incurs $85,000 in explicit costs. In addition, Joe has a standing offer to
come work for
Assignment #5
BPBE, 315
Due 29th November
Katarzyna Bolek
Each 5%
1.
Suppose Joe starts his own business. In the first year the business earns $100,000
in revenue and incurs $85,000 in explicit costs. In addition, Joe has a standing offer to
come work for
Assignment 4 answers
1.
A small business owner is planning to purchase a new office computer for $1,000.
The opportunity cost of purchasing this computer is
a)
$900
b)
$1,000
c)
$1,100
d)
Unknown, since we dont know the owners next best alternative.
Ans:
Assignment #5
BPBE, 315
Due 29th November
Katarzyna Bolek
Each 5%
1.
Suppose Joe starts his own business. In the first year the business earns $100,000
in revenue and incurs $85,000 in explicit costs. In addition, Joe has a standing offer to
come work for
Assignment# 1- Answers
Due on September 20th, 2012
BPBE, 315
Katarzyna Bolek
3%each
1. Which of the following is not typically a factor held constant when deriving a demand
curve for clothing?
a. consumer income.
b. the price of clothing.
c. the price of
Math Review Exercises BPBE 315 Answers
Katarzyna Bolek
1.
a.
dy/dx=2x
b.
dy/dx=9x2 + 1
c.
dy/dx=4*(1/x)
d.
dy/dx=-2/ x-2
e.
dy/dx=1/x*2x+ln(x)*2
f.
dy/dx =(1/4x2 )*8x
g.
dy/dx=[(17+6x)12x-(17x+3x2 )12 ]/144 x2
h.
y=(2x-6)/3; => dy/dx=2/3
i.
ydx+(x+2y)dy=0
Assignment#2
BPBE, 315
Due 11th October
Katarzyna Bolek
Each 3%
1.
2.
3.
4.
5.
The assumption that preferences are complete requires the consumer
a)
to rank any two baskets.
b)
to say that basket C is preferred to basket A if basket B is preferred to bask
Assignment# 1- Answers
Due on September 20th, 2012
BPBE, 315
Katarzyna Bolek
3%each
1. Which of the following is not typically a factor held constant when deriving a demand
curve for clothing?
a. consumer income.
b. the price of clothing.
c. the price of
Assignment#3 answers
1.
Consider the production function Q 5 K 10 L . The MRTS L, K is
a)
2.00
b)
1.50
c)
1.00
d)
0.50
Ans:A
2.
Given the simple production function Q = 3K + 4L, where L is the quantity of labor
employed and K is the quantity of capital em
Math Review Exercises BPBE 315
1. Find dy/dx for the following functions:
a. y = x2
b. y = 3x3 + x
c. y = 4 ln(x),
d.
y=
ln = natural log
2
x
e.
y =ln(x) 2x
f.
y =ln(4 x 2 )
17x +3x 2
y=
12x
g.
h. 2x3y=6
i. xy+y2=4
j. x2+2xy+y2=4
k. Axy1
2. Find the first
Bioresource Policy, Business and Economics (BPBE) 315.3, Fall 2012
Applications of Microeconomic Theory to Agriculture
Instructor: Richard Gray
richard.gray@usask.ca
Office 3E64 Tu: 2:00-3:30
Teaching Assistant: Kasia Bolek (3E76)
kaskawick@yahoo.com
Offi
BPBE315
APPLIED MICROECONOMIC THEORY
1. COBB DOUGLAS:
. .
y = 5 x24 x15
2
2
2. QUADRATIC: y = x1 + x2 + 2 x1 x2
For each of the productions functions.
a. Chart a TP, MP and AP curve for x2 holding x1 =1. repeat for
x1=2.
b. Calculate E1 and E2. Does the p
Assignment# 1- Answers
Due on September 20th, 2012
BPBE, 315
Katarzyna Bolek
3%each
1. Which of the following is not typically a factor held constant when deriving a demand
curve for clothing?
a. consumer income.
b. the price of clothing.
c. the price of
BPBE 315
University of Saskatchewan
Midterm 2009
Richard Gray
Part 1 (10% x 4)
Indicate whether you believe the following statements are true, false or that you are
uncertain. Support your answer with an explanation in the form of a paragraph, a graph
or
Bioresource Policy, Business and Economics (BPBE) 315.3, Fall 2012
Applications of Microeconomic Theory to Agriculture
Instructor: Richard Gray
richard.gray@usask.ca
Office 3E64 Tu: 2:00-3:30
Teaching Assistant: Kasia Bolek (3E76)
kaskawick@yahoo.com
Offi
Suppose we have firms with production data where y is wheat yield and x1 and x2 are N
and K fertilizer applied. From the production data we run a regression, with the log of y
as a function of the log of N and K and estimate a production function.
Or
ln y
Road Map for The Theory of the Firm
BPBE 820
Profit Maximization:
From the FOC:
, VMP=w1
Derived input demand functions:
,
xi non-increasing(decreasing) in wi,
homogeneous degree zero in both P and w
Output supply function:
always non-decreasing (increasi