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
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
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
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)
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
ECOS2001: Intermediate Microeconomics
Semester 1 2016
SAMPLE MID SEMESTER EXAM
Time allowed: 60 minutes + 10 minutes reading time
Directions
1. This examination consists of 20 multiple choice questions
2. Each question is worth 1 mark
3. Answer all questi
Budget Constraints
Budgetary and Other Constraints on Choice A consumption choice set is the collection of all consumption choices available to the consumer. What constrains consumption choice? Budgetary, time and other resource limitations
ECOS1001 L1
1
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
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.
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 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
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
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
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 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)
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
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
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
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
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
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
QUESTION 1
If two goods are perfect substitutes, then the indifference curves for those two goods would be
upward sloping and concave to the origin.
downward sloping and convex to the origin.
downward sloping and straight.
L-shaped.
QUESTION 2
The assumpt
1.
QUESTION 1
The Bertrand model is a more plausible model of firm behavior
than the Cournot model
when firms set the quantity to be sold.
when firms sell a differentiated product.
because firms that sell a non-differentiated product typically
act as pric
1.
QUESTION 1
A change in relative factor prices will always result in
a change in the slope of the isoquants.
a tangency between the new isocost line and
the initial isoquant.
a rotation of the isocost lines.
QUESTION 2
1.
If average cost is positive
Mar
Industry Supply
Short-run supply
Number of firms in the industry is fixed
Firms can neither enter nor exit
Some firms may earn positive economic profits, others may suffer
economic losses and others may earn zero economic profit
Long-run supply
Firms are
Monopoly Behaviour
Uniform pricing same price for every customer
Price Discrimination
Charge every consumer a different price
Assume not all the consumers are alike
Resale is prohibited
Types of PD:
1st Degree PD (Perfect Price PD)
Each output sold at