Excel Tutorial Growth Rates, Logarithms, and Elasticity
Open the file growthdata.xls
Go to the tab Pop Growth
Hi-lite the two columns: Year, Population
(Drag mouse from C9 to D30)
Click on Chart Wizard and select XY (Scatter)
MPP 801 Tutorial
October 16, 2006
Uncertainty and expected value
Suppose there are two states of nature (good day, bad day) and that a person wealth W , depends on which
state. The probability of each state is given by
1. True/ False
1.A profit maximizing monopolist facing no entry threat will operate on the elastic
portion of the market demand curve.
2. If an unregulated monopolist- who is producing at the profit maximizing output- is
making zero economic p
CV and EV
Measuring Welfare Eects of an Economic Change
Welfare and Economic Change
Welfare is, in simple terms, the level of well-being of a group. It is sometimes thought of as the aggregate
of utility (individual wel
Short Run Production and Costs
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) Suppose a firm is producing 100 units of output, incurring a total cost of $10 0
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Basic Techniques for Large Spreadsheets
Note for BUSA3700 students we will come back to these ideas again later in the Term
when we do the Filters and Pivot Tables
When we begin lea
Utility Maximization Steps
The MRS and the Cobb-Douglas
Consider a two-good world, x and y. Our consumer, Skippy, wishes to maximize utility, denoted U (x, y).
Her problem is then to Maximize:
U = U (x, y)
subject to the constraint
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In our session we did a basic filter on the data to extract the School of Business Awards.
Remember the setup:
We then selected all the results and Copy
Finally Paste into
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Parsing and concatenating
When you download information into EXCEL from other sources you often get the
information in awkward forms. For example Figure 1 may not suit your fancy:
The Theory of Perfect Competition
1. True/ False Questions.
1. Since long-run economic profits for a competitive firm are always zero, it will
never pay acompetitive firm to adopt a cost reducing innovation.
2. If a lump sum tax is placed on firms in a co