ECON 103, Spring 2009 Simon Fraser University
Assignment 3 Due in tutorials in the week of March 16th .
Problem 18 from Ch. 10 of the required textbook. (3 marks) Question 1. (4 marks) Compare the impact of rent control when the supply of housing is fixed
E C O N 103- D 200 : P r i n c i p l es of M i c r oe cono m i cs F a l l 2010, S F U P r a c t i c e Q u est io n Se t 3 ( T o b e d isc usse d i n t u to r i a ls)
1.Mikesincomerises. LookingatMikesdemandcurveforluxuryspatreatments,whatkind of movemen
ECON 103, Spring 2009 Simon Fraser University
Assignment 1 Answer Key
Problem 1
(5 marks)
(a) maximum amount a consumer is willing to pay for fixed quantity is TV=26. (b) CS at price of 80 cents is 10 dollars. CS at price of 60 cents is 14.4. Maximum memb
ECON 103, Fall 2008 Simon Fraser University
Assignment 1 Due in tutorial in the week of September 22nd
Do Problem 16 from Chapter 4 (5 marks) Problem 1 (5 marks) Janet has the following demand curve for oatmeal Q = 10 - 2P , where P is price per pound and
ECON 103, Fall 2008 Simon Fraser University
Assignment 1 Answers
Problem 1 (a) TE = 12, CS=4, TV=16. (b) After paying the fee she will have net CS of 7.25, she should purchase the membership. Problem 2 CALCULATIONS (2 points) When price is equal to 9, 7.5
ECON 103, Fall 2008 Simon Fraser University
Assignment 4 Due in tutorials in the week of November 17th .
Question 1. There are several ways in which a price searching firm determines the profit maximizing output and price: ordinary monopoly pricing, perfe
ECON 103, Fall 2008 Simon Fraser University
Assignment 3 Due in tutorials in the week of November 3RD .
Problem 18 from Ch. 10 of the required textbook. (3 points) True or False. If either supply or demand is perfectly inelastic, a per unit tax on produce
ECON 103, Spring 2009 Simon Fraser University
Assignment 3 Answer Key
Question 1. (4 marks) Compare the impact of rent control when the supply of housing is fixed and when supply curve is upward sloping. The purpose of this exercise was to help you unders
ECON 103, Spring 2009 Simon Fraser University
Assignment 2 Due in tutorials in the week of February 9th
Do Problem 36 from chapter 7, p.160. (4 marks)
Question 1 (4 marks) On p. 119 of the textbook (paragraph 3 from the top) it says that Darlene's seller'
ECON 103, Spring 2009 Simon Fraser University
Assignment 2 Answers
Question 1 (4 marks) Explain clearly why we have to subtract TV from TR in order to calculate seller's surplus. Seller's surplus measures by how much the seller is better off after trade.
ECON 103, Spring 2009 Simon Fraser University
Assignment 1 Due in tutorial in the week of January 26th
Each problem is worth 5 marks, 20 marks in total. Do Problem 18 from Chapter 4. For full marks provide full explanation, calculate all relevant variable
ECON 103, Fall 2008 Simon Fraser University
Assignment 2 Solutions
Problem 1 John's daily demand for milk is given by P = 20 - QJ where Q is pints of milk and P is the price he is willing to pay for each pint. Mary's daily demand for milk is given by P =