Econ 100
Winter 2012
Problem set 1
1. Find the derivative with respect to x for the following functions.
a. f ( x ) = ax 3 + bx 2 + x ;
b.
f ( x ) = ax ln x ;
2. What is the price elasticity of the demand curve Q(p) = a - bln(p)?
dQ(p)
b
=
dp
p
dQ(p) p
b
Econ 100
Winter 2012
Problem set 2
Due January 27
1. Consider that the U.S. supply of ethanol follows the function S(p) = 5p, and that the US
demand for ethanol is D(p) = 13.5 2.5p. Without any government role, there are 9 Billion
gallons/year transacted
Practice Problems for Chapter 3: Constrained Consumer Choice
Econ 301
ESSAY. Write your answer in the space provided or on a separate sheet of paper.
1) Draw the indifference curves for rock concerts and food for each of the following:
(a) a typical 17-ye
Practice Problems for Chapter 3: Constrained Consumer Choice
Econ 301
ESSAY. Write your answer in the space provided or on a separate sheet of paper.
1) Draw the indifference curves for rock concerts and food for each of the following:
(a) a typical 17-ye
Econ 01
Econ3100
Practice Problems for Consumer and Producer Welfare, and Competitive Equilibria
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) You pay $15 for an all-you-can-eat mongolian buffet.
Econ 301
Ecn 100
Practice Problems on Oligopoly Pricing and Strategy
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) In a sense, a cartel is self-destructive because
A) it reduces consumer surplus.
Ecn 100 - Intermediate Microeconomic Theory
University of California - Davis
James Bushnell
NOT due February 10, 2012
Problem Set 3: This HW does NOT need to be
handed in
1. One Input Production Functions
Eds building company has the production function q
Announcement
This and next week : Perfect competition
You will get the exams back today before the
class ends.
6.4 Returns to Scale
returns to scale Rate at which output increases as inputs are
increased proportionately.
INCREASING RETURNS TO SCALE
in
Ecn 100 - Intermediate Microeconomic Theory
University of California - Davis
Instructor: James Bushnell
January 29, 2014
ECN 100 B: MT 1: Version A
You have until 2:00 pm to complete this exam. Be certain to put your name, id number and
section on both th
ECN 1B: Chapter 10 Study Guide: Unemployment
1. What are the 3 categories that adults (16 and over) in a household are placed in?
2. What is the formula to calculate labor force?
3. What is the formula to calculate unemployment rate?
4. What is the formul
ECN100B
Practice Exam 1
1. Which one of the following best describes the indifference curve of burger patties and
buns
A.
Convex curve
B.
Positive-sloped line.
C.
L-shaped.
D.
Straight downward-sloping line
2. Andy derives utility from two goods, potato c
ECN100B Problem Set 2 (No need to turn in. Answer at the end of the document)
1. A perfect competitive market is characterized by the following market supply and market
demand:
QS = 2P-1000; and QD = 8000-8P
For a typical firm, the total cost and marginal
ECN100B
Practice Exam 2
I.
Multiple choices
1. Which one of the following market characteristics is NOT true for perfect competitive firms?
A. Market price equals marginal revenue.
B. Price elasticity of demand is perfect elastic.
C. Market price equals a
ECN100B
Problem Set 1 (practice, no need to turn in)
1. The supply and demand for corn can be described as:
Qs=25+5P
Qd=100-20P
a. Solve the equilibrium price and quantity.
b. Calculate the price elasticity of supply and price elasticity of demand at the
In-class Exercise 04062015
1. The supply and demand of wheat are defined as:
Supply: QS = 1800 + 240P
Demand: QD = 3550 266P
Calculate the equilibrium price and quantity, and the price
elasticities of demand and supply at the equilibrium.
2. When the pric
ECN100B Problem Set 2 (No need to turn in. Answer at the end of the document)
1. A perfect competitive market is characterized by the following market supply and market
demand:
QS = 2P-1000; and QD = 8000-8P
For a typical firm, the total cost and marginal
Name _
ECN100B Midterm 1
Spring 2015
Dr. Charles Liao
ID _
1. Which one of the following is NOT true about monopoly?
The supply curve is upward-sloping.
2. If the bakery is a perfect competitive firm, the market price of each cake is $16 (or
$13). How man
ECN100B Ans Key
1. Irene experiences diminishing marginal utility as she drinks more tea.
Or None of the above.
2. Consumers demand elasticity is elastic for Samsung Galaxy.
3. budget line.
4. Both the price of food and Leos income increased.
5. -2/5
6.
w
Syllabus
Office hrs: Ill stay after class. Please let me
know if you are stopping by my office.
Arrangement of next week
This week: Ch 1-2 S&D, elasticities,
equilibrium, shortage and surplus
microeconomics Branch of economics
that deals with the beh
Problem Set 3
1. The fish in public ocean is
A.
public good
B.
private good
C.
quasi-public good (club good)
D.
common-property good
2. In the high pollution market such as petrochemical market, the efficient level of output and price are
reached when
A.
Econ !00. Chapter 3 & 4 Practice Problems
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) The above gure shows Bobby's indifference map for juice and snacks. Also shown are three
budget lines resul
Answer Key
Testname: CHAPTER2_PRACTICE_PAPER
1) B
2) D
3) D
4) D
5) D
6) A
7) A
8) B
9) B
10) First, solve for Q = 45 - 2(1) + .3(20) + 1(1) = 50.
Then price elasticity = -2(1/50) = -0.04.
Cross price elasticity = 1(1/50) = 0.02.
Income elasticity equals
Practice Questions for Chapter 2: Supply and Demand
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) Suppose the demand for Digital Video Recorders (DVRs) is given by Q=250 - .25p + 4pc, where
1)
Q
Answer Key
Testname: PRACTICE3-4
1) B
2) B
3) A
4) D
5) C
6) A
7) C
8)
See the above gure. Canned and fresh soups are perfect substitutes. A corner solution exists where John spends all
$4 on canned soup.
9) For each case, the best approach is to solve wh
Practice Problems
Firms and Production
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) In the long run, all factors of production are
A) xed.
B) rented.
1)
C) variable.
D) materials.
2) Homer's Don
Practice Problems
Chapter 7: Costs
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) Sarah earns $40,000 per year working for a large corporation. She is thinking of quitting this job
to work full ti
Practice Problems
Chapter 8: Competition
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) Firms that exhibit price-taking behavior
A) are independently capable of setting price.
B) have outputs that
Econ 01
Econ3100
Practice Problems for Monopoly and Market Power
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) If a rm is able to set price
A) is a monopoly.
B) it faces a downward-sloping demand
Inclass Exercise:
You are the new CEO of PowerShooz, a company that converts tennis shoes into
jetfuel. You have a highly automated process that requires no labor. Only shoes and
capital are need for inputs. Yo
Homework 1:
Econ 111a American Economic History
Due Wednesday October 26, 2016
Question 1: The American colonies regularly faced a trade deficit in the eighteenth century, but it
faced a small balance of payments deficit. Use the following table on the Ba
Chapter 2: Budget Constraint
Review
Review
Little Ann likes apples over bananas and cucumbers, little Bob likes bananas
over apples and cucumbers, and little Carol likes cucumbers over apples and
bananas. Neighbor Norman is a nice man but he does not know
My System
Intermediate
icroeconomics
ECN 100B
Fall 2016
Burkhard C. Schipper
Lectures:
basic concepts
Homework:
applying concepts to simple
problems: learning by doing,
weekly graded assignments
Sections:
discuss past homework and
additional examples
1
Le
Consumer Theory
How to understand economic phenomena?
Lets make a model!
(Economists do it with models)
What is a model?
a simplified representation of reality
verbal vs. mathematical models
2
1
Chapter 2
Budget Constraint
3
4
Chapter 2: Budget Constrai