E-Commerce adaptation and evolution
When the online marketing company eMarketer asked Danielle Bailey, a principal at
research firm L2 Think Tank: What are the major developments with department stores and
digital commerce? her reply was that One is the u
Econ 200 Problem Set 1
Due: October 8, 2013
Autumn 2013
Instructor: Avigail Kifer
TA: Heung Jin Kwon
Question 1: Partial Derivatives
Calculate the partial derivatives
@f (x,y)
@x
and
@f (x,y)
@y
for the following functions:
(a) f (x, y) = log(x) + log(y)
Economics 200: Elements of Economic Analysis
Revealed Preferences and Price Indices
Avigail Kifer
Autumn 2013
1 Own Price Elasticity
The demand function1 that I gave you in class,
xm (px , py , m) =
m
2px + py
is one that you might encounter when working
Econ 200 Problem Set 4
Due: October 29, 2013
Autumn 2013
Instructor: Avigail Kifer
TA: Heung Jin Kwon
Question 1
True, False, or Uncertain? Give concise but complete explanations, no u. Back up statements with
economics and / or math.
(a) If a good is a n
Econ 200 Problem Set 4 Solutions
Heung Jin Kwon
Question 1
True, False, or Uncertain? Give concise but complete explanations, no flu. Back up statements with
economics and / or math.
(a) If a good is a normal good, then the demand function must have a neg
Econ 200 Problem Set 1: Solutions
Heung Jin Kwon
Question 1: Partial Derivatives
(x,y)
Calculate the partial derivatives @[email protected] and
(a) f (x, y) = log(x) + log(y)
We obtain partial derivatives as follows:
@f (x,y)
@y
for the following functions:
@f (x, y)
1
Econ 200 Problem Set 1: Solutions
Heung Jin Kwon
Question 1: Preferences
In this picture, I have drawn a sequence of indierence curves.
(a) Which preference axiom is violated?
Convexity is violated. Consider the following gure.
Figure 1: In order to have
Econ 200 Problem Set 2
Due: October 15, 2013
Autumn 2013
Instructor: Avigail Kifer
TA: Heung Jin Kwon
Question 1: Preferences
In this picture, I have drawn a sequence of indierence curves.
(a) Which preference axiom is violated?
(b) Given an arbitrary inc
Econ 200 Problem Set 3 Solutions
Heung Jin Kwon1
Question 1: Short Questions
(a) A consumer with concave indierence curves between goods X and Y will always specialize in consuming either X or Y . Do you agree? Why or why not? (Keep your answer as mathema
Econ 200 Problem Set 3
Due: October 22, 2013
Autumn 2013
Instructor: Avigail Kifer
TA: Heung Jin Kwon
Question 1: Short Questions
(a) A consumer with concave indierence curves between goods X and Y will always specialize in
consuming either X or Y . Do yo
Economics
The study of how society uses it's scarce resources to supply the insatiable wants and
needs of said society both now and in the future.
Opportunity Cost
The next best alternative forgone when making any decision. Explicit costs + implicit
costs
Gross Domestic Product (GDP)
Measures the total income of everyone in the economy and measure the total
expenditure on the economy's output of goods and services
For an economy as a whole.
Income must equal expenditure
Circular-Flow Diagram
displays the r
Economics 200: Elements of Economic Analysis
Optimization Review
Avigail Kifer
Autumn 2013
1 Multivariate Optimization
Given z = f (x, y):
First order conditions give us a critical point, which indicates that the function has stopped increasing or decreas