MAE 201: Tutorial work for week 2
Please read the relevant materials from the text book and attempt these
questions BEFORE attending the tutorial.
Question 1:
Suppose that Fred is addicted to cocaine so that his tastes between cocaine and some
other produ
MAE 201: Tutorial work for wk 6
Question 1
The production function at Ginkos Copy shop is q = min (L, 3K) where q is the number of
copies, L is the hours of labour used, and K is hours of copy machine employed. Draw the
isoquants for this production funct
Tutorial work for week 7
Question 1
Suppose that a firms production function is given by q 0.5 L0.5 K . What might be the shape
of its LAC curve?
Question 2
In the short run, a firm cannot vary its capital, K = 2, but can vary its labour, L. It produces
o
MAE 201: Tutorial work for week 1
This tutorial is meant to help you brush up your knowledge on demand curves, supply
curves, elasticities and market equilibrium that you learnt in MAE 101. We will
expect you to know these concepts in this unit. So please
MAE 201: Tutorial work for week 3
Question 1:
Fiona requires a minimum level of consumption, a threshold to derive any utility.
Hence her utility is given by U(X, Z) = 0 if X + Z 5. Otherwise, it is given by X +
Z. Draw Fionas indifference curve for utili
Tutorial Week 4: Mock Test Question
Nikeya and Vicky both purchase milk and cookies at the same Quick Mart. They have
regular convex but different preferences for milk and cookies and different incomes. They
both end up purchasing some milk and some cooki
MAE 201: Tutorial work for week 5
Please read the relevant materials from the text book and attempt these
questions BEFORE attending the tutorial.
Question 1:
Linda loves buying shoes and going out to dance. Her utility function for pairs of
shoes, S, and
cocaine.def
price quant qual trend
Obs: 56 sales of cocaine
price = price per gram in dollars for a cocaine sale,
quant = number of grams of cocaine in a given sale,
qual = quality of the cocaine expressed as percentage purity,
trend = a time variable wit