5 ~. .
~.~.!.f
Ter m :
( 0
u r s e N a m e and
Fa cui
(
0
u r s e Num b er:
ty:
~
Name:
Student
Number:
Number
of
the
C0,
lA.
Date:
~
(
J U (
!f)
. /
.
c)
.
~
.
w"61
Student
Enter
Examination
Yea r :
.
2'
cfw_>r
v, 2~
~,LO
.
books
handed
number
in:
.
of
/
October 2013
Term Test for Economics 4010
Instructor: Professor Kin Chung Lo
'v'/
There are seven questions.
Please answer, with explanation,
all of them.
l. (10 marks) Suppose that a consumer's preference relation (, on JR~ is represented by
the utilit
July 2014
Term Test for Economics 4010
Instructor: Professor Kin Chung Lo
Please answer, with explanation,
all the questions below.
1. (10 ~arks). Prove ~at ~_~a&reterer:c;i~tio~en
relation > IS transitive.

\theT~duced strict preference
.>
~
~
_
2. (
V
r~
t
Jl"'oYe,.
I'
t'D"f'
fliPI<
L_
Octo ber 2014
3~Y5.
~
1
Term Test for Economics 4010
Instructor: Professor Kin Chung Lo
Please answer, with explanation,
all the questions below.
1. (lO marks) Let u(x) represent some consumer's monotonic preferenc
FINAL EXAM MATERIAL 4010: 2010
Following sections are OMITTED
CHAPTER 8
Incomplete Information 268
Simultaneous Bayesian Games 268
Signaling Games 273
Experimental Games 281
Evolutionary Games and Learning 282
Extensions 288
CHAPTER 9
Extensions 320
CHAPT
AP/ECON 4010A:ADVANCED MICROECONOMIC THEORY
MIDTERM EXAM ANSEWRS
OCTOBER 2010
SECTION A: Short Answers.
1. 1. False. MRS can be diminishing even if MU is not. Check the condition for
quasi concavity: The condition for DMRS is: f22f11 2f1f2f12 + f12f22 < 0
Production
1
In the previous section we looked at the problem:
maxfU (x) : px
x
yg
Note that the constraint was a simple linear function, so we focused on the properties of the objective function,
namely, utility. Now, we face the opposite situation: the
Figure 1:
Exchange
1
Quick overview of Exchange (neither markets, nor production) equilibrium.
Consider the following Edgeworth box diagram:
The construction of an exchange economy is purely for illustrative purposes: it helps us understand
several usefu
Consumer Theory
1
Two approaches:
1. Classical: based on preferences
2. Revealed preference: based on choice rules
3. We will focus on the classical approach, but let us just mention the Weak Axiom of Revealed Preference
Weak Axiom of Revealed Preference
1
Bargaining
There are two types of bargaining models in the literature:
Cooperative bargaining and noncooperative bargaining.
The cooperative bargaining approach is axiomatic, whereas the noncooperative bargaining approach is game
theoretic.
One of
1
Welfare Maximization
Define
the utility possibilities set as:
or simply:
cfw_1 (1 ) ( ) :
all
X
X
+
X
cfw_1 (1 ) ( ) : ( ) feasible set
(1)
For Pareto eciency we solve the following problem:
maxcfw_ ( ) : ( ) for all 6=
(1 (1 ) ( )
In o
1
Duopoly
Usually the firm is not passive and its strategies are important.
We have to examine both long run and short run strategies and constraints.
Normally, in the short run it is easier to change prices than quantities.
In the long run the firm c
1 Introduction
1.1 The methodology of Science can be described using the
following Diagram:
1.2
Models of Individual Behaviour
Individuals make decisions.
These give rise to behavioural rules.
Thus, behaviour is based on/assumes optimization.
Question
Economics , Faculty of Liberal Arts & Professional Studies, York University
Fall 2010 Course Outline
COURSE #: AP/ECO 4010
COURSE TITLE: Advanced Microeconomic Theory
IMPORTANT LINKS
20092010 Undergraduate Calendar  Important Dates  Enrol Here
York Cou
AP/ECON 4010: Advanced Microeconomic Theory
Final Examination
Fall 2009
Time allowed: 2.30 hrs.
SECTION A: Short answers. Explain briefly why each of the following statements is
true, false or uncertain. Do any EIGHT.
5 x 8 = 40
1. Diminishing marginal ra
AP/ECON 4010: ADVANCED MICROECONOMIC THEORY
MIDTERM EXAM
Fall 2009
SECTION A: Short Answers. Explain briefly but clearly why each of the following
statement is true, false or uncertain. Do any FIVE.
5 x 8 = 40pts
1. If marginal rate of substitution is dim
ECON 4010: Advanced Microeconomic Theory
Final Exam answers.
Fall 2009
SECTION A
1. Not necessarily. Exception: corner solutions.
2. False. Indirect utility function is homogenous of degree zero. If prices and income
double, the budget constraint and util
Definitions of Quasiconcave and Quasiconvex Functions
QUASICONCAVITY: Consider the function f : D R, where D is a convex subset of Rn and
let c be a number in the range of f .
Define the upper level set of f for c to be the following subset of D:
Pc cfw_x