Student Number:
Name :
Econ 212 Section 002
Quiz 1
Question 1. [10 pts] Suppose the market demand curve for burgers is given by Qd=70-2P and the
market supply curve is given by Q5 = -14+5P .
a 5 ts Calculate the e uilibrium rice and uantit in this market.
Student number:
Fall 2014
Name
Econ 212 Section 001
Quiz 4
Question 1.[10 pts] Suppose a rm uses Labour, L and Capital, K to produce output, Q.
The production function is: Q = K 2L 2 and the price of labour w=9 and the price of capital
is r=6
(a)What is t
Student number:
Fall 2014
Name
Econ 212 Section D01
Quiz 2
Question 1. [16 pts] Andys preference ever oole, x and pizza, 3" are given by Ul[:c,y} = may.
The price of cola, P3 is $2, and the price of pizza, P is $4. His budget([) is $32.
a.) Derive Andys o
Student number:
Fall 2014
Name
Econ 212 Section 001
Quiz 3
Question 1.[10 pts] Maggie has a wealth of $200. She plans to spend the weekend at the
nearby casino. She has a utility function U = I 3. She either loses all her wealth or with the
probability of
Student Number: Winter 2013
Name:
Econ 212 Section 001
Quiz 1
Question 1: [lOpt] Bill is a consultant in the tness industry. His research has shown that
the demand for the shake weight (training equipment) in Kingston is Qd = 10-p/2 and
the supply is Qs =
Sc) 7 ul'll '
Student Number: ' M Winter 2013
Name:
Econ 212 Section 001
Quiz 3
Question 1: [5pts] Bill has the following preferences U(x,y) = x3 y23. The MRSX,y is
y/2x and the optimal bundle with those preferences are: x* = I/3Px and y* = 21/3Py . So
wi
Student Number: Winter 2013
Name:
Econ 212 Section 001
Quiz 2
Question 1: [10pt] Wenbo has the following preferences U(x,y) = x14 y3/4. Assume that
Px=4,Py= 5,I=20.
a) Draw his budget line [2pt]
9V4
u
.3:
p
z/Pn 1
b) Assume that the price of x dseéreases
Student Number: 0 10% OAK"
Name:
Winter 2013
Econ 212 Section 001
Quiz 4
Question 1[10pts]: A rm has the following production mction Q = min{L, 5K}, where
Q is output, K is capital and L is labour. Also assume that the price of capital is r = 10
and the p
a. $9 (diff/bx
Student Number: Winter 2013
Name:
Econ 212 Section 001
Quiz 5 '
(20 minutes)
Question 1: [10pt] The supply in a perfect competitive market is: p = 15 + 2q. The
demand in this market is q = 10-p/8.
a) What are the equilibrium price and quant