Economics 601 Harvey Lapan
Microeconomic Analysis I
Fall 2014
Problem Set No. 2
1.
Due by: September 11
1
1
Consider the greatest integer function f ( z ) : R R , which is denoted [ z ] . This function assigns
the largest integer, not larger than z, to ea
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2014
Problem Set No. 5 Due Thursday, Oct. 2, 2014
Finish problem set 4, question 8.
1. Duality and Convexity
(
)
2
2
(a) Consider the utility function U ( x1 , x2 ) = Max x1 x2 , x1 x2 .
i. Is thi
Economics 601, Microeconomic Analysis I
Fall 2013
Harvey Lapan
Midterm 2
Answer Any Three Questions
1. Answer all parts.
(a) Consider a utility maximizing consumer with utility function: U ( x1 , x2 , x3 ) = ( x1 , G ( x2 , x3 ) ) where
(
)
( x1 , G ) is
Economics 601, Microeconomic Analysis I
Fall 2013
Harvey Lapan
Midterm 1
Answer Any Three Questions; answer all parts to each question
1.
(33 points) Answer all parts
a. Consider a three good world, in which an individual has the following preferences. Fo
Economics 601 Harvey Lapan
Microeconomic Analysis I
Fall 2014
Problem set 3 due September 18, 2014
1. The CES utility function is a homothetic function, which means that the slopes of the indifference
curves are constant along a ray from the origin. This,
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2014
Problem Set No. 4
1.
Due by: Thursday, September 25, 2014
Relationship Hicksian and Marshallian Demands: Given the utility function U ( x1 , x2 ) , let
xiM ( p, w ) and V ( p, w ) denote the Ma
Economics 601, Microeconomic Analysis I
Fall 2013
Final Exam Answer Any Three Question
1. A monopoly producer has the following cost function: C ( q ) =
The market demand for the monopolists output is:
q2
2
Harvey Lapan
.
q D 64 p 2 p 8q 1 2
=
=
a) Find
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2014
Problem Set No. 1
Due by: Thursday, September 4
1. Consider the function f ( x1 , x2 ) x1 2 + x1 2 , for ( x1 , x2 ) in the domain D +
= 1
2
2
a) If D is such that x1 [ 0, 2 ) ,
x2 [ 0, 2 ) , d
Economics 601, Microeconomic Analysis I
Fall 2011
Final Exam - Answer Any Three Questions
Harvey Lapan
1. Answer all parts.
(
)
a) A firm produces a single good, q, with production function F x1 , x2, x3 . Input prices are given
by cfw_w1 , w2 , w3 . In
Economics 601, Microeconomic Analysis I
Fall 2011
Harvey Lapan
Midterm 1
Answer Any Three Questions
1. Answer all parts.
a. Assume U ( x1, x2 ) and W ( x1 , x2 ) are both increasing, quasi-concave functions of
cfw_ x1 , x2 . A persons preferences are giv
Economics 601, Microeconomic Analysis I
Fall 2012
Harvey Lapan
Midterm 1
Answer Any Three Questions; answer all parts to each question
1.
(33 points) Answer all parts
a. In a three good world, consider a proposed demand system: xi p1 , p2 , p3 , w , i 1,
Economics 601, Microeconomic Analysis I
Fall 2012
Harvey Lapan
Midterm 2
1. Answer all parts.
(a) Consider a consumer whose utility depends on three goods, x1 , x2 , x3 . Her Hicksian demand
for goods 1and 2 are given by:
1
1
p1 3 p1 6 h 2U 1 2 p1 2 p3 6
Economics 601, Microeconomic Analysis I
Fall 2011
Harvey Lapan
Midterm 2
Answer Any Three Questions
1. Answer all parts.
(a) (Revealed preference) Assume the Weak Axiom of Revealed Preference (WARP) is known to hold.
In a two good world, the person is obs
Economics 601, Microeconomic Analysis I
Fall 2012
Final Exam Answer Any Three Questions
Harvey Lapan
1. Consider a monopoly firm with cost curve: C q q , where costs are measured in terms of the
numeraire good. The firm has two types of customers, with qu