Tutorial assignment 4
Due at the beginning of your week 5 tutorial
1. In 2008 many households fixed their mortgage rates for the duration of the mortgage. Later in 2008 the
nominal interest rate elsewhere decreased so that those who stayed with the floati
ECOS2001
Lecture 11 Chapter 27 Oligopoly
Monopoly:
An industry consisting a single firm
Duopoly:
An industry consisting of two firms
Oligopoly:
An industry consisting of a few firms
Each firms own price or output decisions affect its competitors profi
Problem Set 2: Solutions
ECON 301: Intermediate Microeconomics
Prof. Marek Weretka
Problem 1 (Marginal Rate of Substitution)
(a) For the third column, recall that by denition MRS(x1 , x2 ) =
Utility Function
U
x1
U
x2
.
U
x2
U
x1
MRS (x1 , x2 )
MRS (2,3)
ECOS2001 Intermediate Microeconomics
Mid-Semester Exam
Form 1
Semester 1, 2010
You have 110 minutes to complete the exam.
Student last name:
_
Student first name(s): _
Student number:
_
Please ensure that this exam paper consists of 9 pages consisting of
Tutorial assignment 4
Due at the beginning of your week 5 tutorial
1. In 2008 many households fixed their mortgage rates for the duration of the mortgage. Later in 2008 the
nominal interest rate elsewhere decreased so that those who stayed with the floati
Tutorial assignment 4 Due at the beginning of your week 4 tutorial
1. In 2008 many households fixed their mortgage rates for the duration of the mortgage. Later in 2008 the nominal interest rate elsewhere decreased so that those who stayed with the floati
Semester 1 2012
Page 1 of 4
THE UNIVERSITY OF SYDNEY
FACULTY OF ARTS & SOCIAL SCIENCES
Intermediate Microeconomics
ECOS2001
Mid-Term Exam
CONFIDENTIAL
Family Name :_WRITTEN_
First Names :_GRADING KEY _
Student ID No. :_
April 2012
Time allowed: 1.5 hours
ECOS 2001 Tutorial 5 1. The demand function for football tickets for a typical game at a large Midwestern university is D(p) = 200 000 10 000p. The university has a clever and avaricious athletic director who sets ticket prices so as to maximize revenue.
ECOS2001 Intermediate Microeconomics
Mid-Semester Exam
Form 1
Semester 1, 2010
You have 110 minutes to complete the exam.
Student last name:
_
Student first name(s): _
Student number:
_
Please ensure that this exam paper consists of 9 pages consisting of
ECOS2001 Practice exam no. 3
1. Consider the market for drug Y. The patent for Drug Y held by a firm Pharmagoods, and
there are no close substitutes. Drug Y was developed over ten years and cost Pharmagoods
$10,000 to develop. Market research shows that t
ECOS2001 Practice exam no. 3
1. Consider the market for drug Y. The patent for Drug Y held by a firm Pharmagoods, and
there are no close substitutes. Drug Y was developed over ten years and cost Pharmagoods
$10,000 to develop. Market research shows that t
Problem set 6. Due week 8 at the beginning of your tutorial. Problem 1. Perfect Substitutes Production. The firms technology is such that one unit of output can be produced either using 2 units of capital or 3 units of labour. Denote with L the amount of
ECOS2001 Intermediate Microeconomics Suggested sketch of the answers for Homework 2 1. Consider 2 goods: apple ( xa ) and bananas ( xb ). Charlie's utility function is given by U xa , xb = xa xb .
(1) He has 40 apples and 5 bananas. What is his utility fo
Tutorial assignment 3 Due at the beginning of your week 4 tutorial
1. Suppose we live in a world where there are just two goods to consume. Can both of them be: a. Normal? b. Income inferior? c. Ordinary? d. Giffen? 2. Nancy spends all her income on good
1 Tutorial 2
1.1
Consumers in Queensland pay twice as much for avocados as they do
for peaches. However, avocados and peaches are equally priced in SA.
If consumers in both states maximize utility (and have identical preferences), will the marginal rates
ECOS2001 Intermediate Microeconomics Suggested sketch of the answers for Homework 4 1. Question 12.1 from Workouts in Intermediate Microeconomics: A Modern Approach, by Theodore Bergstrom and Hal Varian. Summary: Congress is considering a new weapons syst
Tutorial assignment 2 Due at the beginning of your week 3 tutorial
1. Consumers in Queensland pay twice as much for avocados as they do for peaches. However, avocados and peaches are equally priced in SA. If consumers in both states maximize utility (and
ECOS2001: Intermediate Microeconomics For Week 3 Tutorials (tutorials during week of 19 March 2012)
ECOS 2001 Tutorial 2
1. Consider 2 goods: apple ( xa ) and bananas ( xb ). Charlie's utility function is given by U xa , xb = xa xb .
(1) He has 40 apples
Homework 10. Due at the beginning of you tutorial on week 12 1. Stag hunt. Two guys go hunting for food, and each can choose to hunt stag or hunt hares. Only if both players hunt stag will they succeed; if only one player hunts stag, he will fail. On the
End of Chapter Problems, Perloff Microeconomics, Third and Fourth Edition
Chapter 2
#15 3rd Edition: Using the estimated demand function for processed pork in Canada (Equation
2.2), determine how price changes as the quantity demanded increases by one uni
ECOS2001 Intermediate Micro Economics
Suggested sketch of the answers for Tutorial 1
Question 1:
Your budget is such that if you spend your entire income, you can afford either 6
units of good x and 6 units of good y or 2 units of x and 12 units of y.
(1)
ECOS 2001 Tutorial 9 1. A monopolist has an inverse demand curve given by p(y) =20 y and a cost curve given by c(y) = y2 (a) What will be its profit-maximizing level of output? (b) Suppose the government decides to put a tax on this monopolist so that for
ECOS2001 Intermediate Microeconomics
Mid-Semester Exam
Form 1
Semester 1, 2011
Stream 3
You have 110 minutes to complete the exam.
Student last name:
_
Student first name(s): _
Student number:
_
Please ensure that this exam paper consists of 9 pages consi
ECOS2001: Intermediate Microeconomics
Practice for Mid-term Exam (exam 24 April)
ECOS 2001 Mid-term Examination Preparation
These are suggested practice problems for the upcoming mid-term exam. The objective of
providing this list is to encourage the stud
ECOS 2001 Tutorial 12
1. Clarence Busen is an expected utility maximiser. His preference among contingent commodity bundles are represented by
u (c1 , c2 , 1 , 2 ) = 1.(c1 )1/ 2 + 2 .(c2 )1/ 2
Hjalmer has offered to bet Clarence $1000 on the outcome of th
ECMT 463-100 Summer 2008 Raul Ibarra-Ramirez
Practice Questions for Exam 3 _
1) The overall regression F- statistic tests the null hypothesis that A) the intercept in the regression and at least one, but not all, of the slope coefficients is zero. B) all
Chapter 17/Uncertainty
CHAPTER 17
Uncertainty
MULTIPLE CHOICE
Choose the one alternative that best completes the statement or answers the question.
1) Although he is very poor, Al plays the million-dollar lottery everyday because he is certain
that one da
ECOSZOOI - Intermediate Microeconomics
MidSemester Exam
Form 1
Semester 1, 2011
Stream 3
You have 110 minutes to complete the exam.
Student last name:
Student rst name(s):
Student number:
Please ensure that this exam paper consists of 9 pages consis
Instructor - Oleksii Birulin
Problem set 6.
Due week 4 at the beginning of your Thursday tutorial.
Problem 1. Perfect Substitutes Production.
The firms technology is such that one unit of output can be produced either using 2 units
of capital or 3 units o
1 Tutorial4
1.1
Mike is going to Lake Taupo and takes $2500 with him. With
probabilityhewilllose$1600onhisway.Thushewillspend$2500
onTaupoifheisluckyandonly$900ifheisunlucky.Hisutilityfrom
1
thetripisgivenbythefunction U ( E )=E 2 ,whereEistheamount
thath
Tutorial assignment 4
Due at the beginning of your Tuesday week 3 tutorial
1. In 2008 many households fixed their mortgage rates for the duration of the mortgage. Later in 2008 the
nominal interest rate elsewhere decreased so that those who stayed with th
Oleksii Birulin
Tutorial assignment 1
Due at the beginning of your Thursday, week 1 tutorial
1. Budget Constraint.
Antonio buys 8 new college textbooks during his first year at school at a cost of $50
each. Assume that he buys only new books. Used books c
Oleksii Birulin
Tutorial assignment 3
Due at the beginning of your Thursday week 2 tutorial
1. Suppose we live in a world where there are just two goods to consume. Can both of
them be:
a. Normal?
b. Income inferior?
c. Ordinary?
d. Giffen?
2. Nancy spend