Exercises Ch.14
Multiple Choice
Identify the letter of the choice that best completes the statement or answers the question.
_
_
_
1. Which of the following statements best reflects a price-taking firm?
a. If the firm were to charge more than the going pr
Exercises Ch.13
Multiple Choice
Identify the letter of the choice that best completes the statement or answers the question.
_
1. Economists normally assume that the goal of a firm is to
(i)
sell as much of their product as possible.
(ii)
set the price of
Exercises Ch.17
Multiple Choice
Identify the letter of the choice that best completes the statement or answers the question.
_
_
1. A similarity between monopoly and monopolistic competition is that, in both market structures,
a. strategic interactions am
Exercises Ch.6
Multiple Choice
Identify the letter of the choice that best completes the statement or answers the question.
_
_
_
1. A price floor
a. is a legal minimum on the price at which a good can be sold.
b. can result when sellers of a good are suc
Exercises Ch.16 Exercises
Multiple Choice
Identify the letter of the choice that best completes the statement or answers the question.
_
_
_
_
1. As the number of firms in an oligopoly market
a. decreases, the market approaches the cartel outcome.
b. decr
Exercises Ch.7
Multiple Choice
Identify the letter of the choice that best completes the statement or answers the question.
_
1. If the cost of producing sofas decreases, then consumer surplus in the sofa market will
a. increase.
b. decrease.
c. remain co
Exercises Ch.15
Multiple Choice
Identify the letter of the choice that best completes the statement or answers the question.
_
_
_
_
1. When a firm's average total cost curve continually declines, the firm is a
a. government-created monopoly.
b. natural m
Econometric Methods
Revision: Matrix Algebra and Probability
Burcu Erdogan
Universitt Trier
a
WS 2012/2013
(Universitt Trier)
a
Econometric Methods
24.10.2012
1 / 42
Moving on to .
1
Review of Matrix Algebra
Basic Denitions
Matrix Operations
Linear Indepe
HW3 Solutions
1. a. A CobbDouglas production function has the form
. The text showed that the marginal
products for the CobbDouglas production function are:
MPL = (1 )Y/L.
MPK = Y/K.
Competitive profit-maximizing firms hire labor until its marginal produc
Economics 1011b, Spring 2013: Solution Set 1
Problem 1: The Aggregate Production Function
In Lecture 1 we considered the aggregate production function with capital and labor.
Assume now that there are three factors: K is capital (the number of machines),
Safe Practices: An Exercise
Read over each of the following passages, and respond on your own or
as a class as to whether or not it uses citations accurately. If it doesn't,
what would you do to improve the passage so it's properly cited?
1. Last summer,
Problem Set 2
FE312 Fall 2007
Rahman
Some Answers
1) Use the neoclassical theory of distribution to predict the impact on the real wage and
the real rental price of capital of each of the following events (illustrate graphically, using
two graphs for each
Problem Set # 3
Solutions
Chapter 8 #2
a) The production function in the Solow growth model is Y = f(K,L), or expressed in terms of
output per worker, y = f(k). If a war reduces the labor force through casualties, the L falls but
Capital-labor ratio k = K
Suggested Answers for Mankiw Questions for Review & Problems
The answers here will not have graphs, I encourage to refer to the text for graphs. There is a some math, however
I dont expect you to replicate these in your exam, but you should understand the
Suggested Answers for Mankiw Questions for Review & Problems
The answers here will not have graphs, I encourage to refer to the text for graphs. There is a
bit of math, however I dont expect you to replicate these in your exam, but you should understand
t