ECON100106 Principal of Economics I
Fall 2015
Problem Set 4
Deadline: 2015, 12, 7 (in class)
Please read the questions carefully, and make sure to show your work.
1. The following figure shows the demand and supply of television sets in a city. Since TVs
ECON100106 Principal of Economics I
Fall 2015
Problem Set 1
Deadline: 2015, 10, 19 (in class)
Please read the questions carefully, and make sure to show your work.
1. The demand for ice cream is
, and the supply of ice cream is
, where P is the price of i
ECON100106 Principal of Economics I
Fall 2015
Problem Set 2
Deadline: 2015, 11, 2 (in class)
Please read the questions carefully, and make sure to show your work.
1. You have decided to spend $40 this month on CDs and movies. The total benefits you receiv
ECON100106 (Principal of Economics (I)
Instructor:
Office: 812
Email: ylee@mx.nthu.edu.tw
Office Hours: 1pm-2:30pm
: (yinyu222@gmail.com)
(s99211057@ncnu.edu.tw)
(00151230@gm.scu.edu.tw)
: Economics, by Daron Acemoglu, David Laibson and John A. List, P
Suggested answers (Problem Set 3)
1.
a. Fixed costs are independent of the level of output. In the total cost equation given
above, the producer will have to incur $500 in costs irrespective of the level of
production. Therefore, $500 is the fixed cost.
b
i) @D “I [95 0+ +}\e eqwﬁxl‘b 'r'l‘Wﬂ P n‘w P 9"
a (Q9 3 (95 when P;p‘*
N
7 Wm LHJ" : 10+ zp”
if
'3? 60:
3) l7;!0
Men P*=zo , {(99 = Wo— two = 30
(95: L0+Zxro ago
The Ethbmm PﬁcSZ 17": a0
39 x
Eolqlmbrium quah'+€*y 43+ foe cveam (2 p >623 2 50
5%
ECON100106 Principal of Economics I
Fall 2015
Problem Set 3
Deadline: 2015, 11, 9 (in class)
Please read the questions carefully, and make sure to show your work.
1. Suppose the market for T-shirts in the country of Argonia is perfectly competitive, and t