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ECON econ102a - Econ 102a - UC Riverside Study Resources
  • 5 Pages Homework 2 Anwers choic
    Homework 2 Anwers choic

    School: UC Riverside

    Course: Econ 102a

    Homework 2 Multiple Choice Identify the letter of the choice that best completes the statement or answers the question. _ 1. A util represents a unit of measurement for the: a. dollars a consumer spends on a good. b. profit a firm makes from producing a g

  • 1 Page Econ_102A_PS3
    Econ_102A_PS3

    School: UC Riverside

    Course: Econ 102a

    Econ 102A Problem Set 3 1.) Show graphically why a lump sum (income) tax is superior to a per unit (sales) tax. 2.) Using the same logic as in 1.) show graphically why a lump sum subsidy is superior to a per unit subsidy. 3.) a.) If the demand curve for a

  • 4 Pages Econ_102A_PS1_Answer
    Econ_102A_PS1_Answer

    School: UC Riverside

    Course: Econ 102a

    Econ 102A #1) a) Budget Constraint: Px*X+Py*Y=M Budget Set: cfw_ (X,Y) | Px*X+Py*YM Problem Set 1 Solutions Note that I and M are the same. e) Lets look at the budget constraint. Suppose we double all prices and income. Then the budget constraint becomes

  • 2 Pages Econ_102A_PS3_Answer
    Econ_102A_PS3_Answer

    School: UC Riverside

    Course: Econ 102a

    Problem Set 3 Solutions #1) Clearly, the lump sum scheme puts the consumer on a higher indifference curve than the per unit tax. #2) Clearly, the lump sum scheme puts the consumer on a higher indifference curve than the per unit subsidy. 3) a) Q=1/P e=-1/

  • 4 Pages Econ_102A_PS4_Answer
    Econ_102A_PS4_Answer

    School: UC Riverside

    Course: Econ 102a

    Problem Set 4 Solutions Econ 102A #1.) Consider a consumer making wage w endowed with T units of time. The consumer can divide his time between working (labor) and playing (leisure). a) Under the assumption that the consumer will spend all of his income o

  • 2 Pages Econ_102A_PS5_Answer
    Econ_102A_PS5_Answer

    School: UC Riverside

    Course: Econ 102a

    Econ 102A Problem Set 5 Consider a firm operating in the short run in a perfectly competitive market using a production technology given by F(K,L)=KL . Suppose that the firm is utilizing 100 units of capital input in the short run but the firm can hire an

  • 2 Pages Econ_102A_PS6
    Econ_102A_PS6

    School: UC Riverside

    Course: Econ 102a

    Econ 102A Problem Set 6 1. Suppose that the market demand curve is given by Q=100-P. Also, the firms technology is given by Q=f(K,L)=KL . The rental rate on capital is $10/unit and the wage is $25. The firm utilizes 5 units of capital in the short run. Th

  • 2 Pages Econ_102A_PS6_Answer
    Econ_102A_PS6_Answer

    School: UC Riverside

    Course: Econ 102a

    Problem Set 6 1. Suppose that the market demand curve is given by Q=100-P. Also, the firms technology is given by Q=f(K,L)=KL . The rental rate on capital is $10/unit and the wage is $25. The firm utilizes 5 units of capital in the short run. The market s

  • 1 Page Econ_201A_PS5
    Econ_201A_PS5

    School: UC Riverside

    Course: Econ 102a

    Econ 102A Problem Set 5 Consider a firm operating in the short run in a perfectly competitive market using a production technology given by F(K,L)=KL . Suppose that the firm is utilizing 100 units of capital input in the short run but the firm can hire an

  • 17 Pages Final Review 1
    Final Review 1

    School: UC Riverside

    Course: Econ 102a

    Review Session I Explanations, Homeworks and Examples. The firm uses a technology to combine capital K and labor L : f K , L . As the firm is rational, it would produce as much as it can : Q f K , L . The technology is featured by certain returns to scale

  • 11 Pages Final Review 2
    Final Review 2

    School: UC Riverside

    Course: Econ 102a

    Production Function, Perfect Competition, Monopoly and Price Discrimination Examples and Graphs Let' s do an example : K 100, r 0.8, w 10,000, Q f K , L K L , 1 Find the Long Run Returns to Scale : f K , L K L f K , L K L 3 2 3 2 1 2 1 2 3 2 1 2 f K , L

  • 6 Pages Homework1 presentation
    Homework1 presentation

    School: UC Riverside

    Course: Econ 102a

    HOMEWORK 1 GRAPHS AND EXPLANATIONS The Budget Constraint is : M Px x Py y M Px x Py y M Px x Py y The Budget Set is : B x, y M Px x Py y Y M Py A B C M Px x y Py Py P Slope x . Py M y Then Vertical Intercept Py M Horizontal Intercept x Px M 2 Py Slope

  • 23 Pages Homework 2 for discussion section
    Homework 2 for discussion section

    School: UC Riverside

    Course: Econ 102a

    HOMEWORK 2 ANSWERS AND EXPLANATIONS A util represents a unit of measurement for the: dollars a consumer spends on a good. No, that is measure with total expenditure profit a firm makes from producing a good. No, that is not relevant to the consumer way a

  • 8 Pages homework 4 presentation
    homework 4 presentation

    School: UC Riverside

    Course: Econ 102a

    HOMEWORK 4 Graphs and Explanations T n n T pC wn wT C w T C T w w p p p Consumption w T p w p Leisure * T Leisure Work Reduction in Wages: 1. Substituion Effect: Opportunity cost of leisure goes down, more demand more leisure 2. Income effect Income

  • 2 Pages Mid-term practical question
    Mid-term practical question

    School: UC Riverside

    Course: Econ 102a

    Practical question for midterm 1) The utility function for a consumer is given by U(X, Y) =XY. The price of goods X and Y are $5. The consumer has $200 of income. Hint you have to use first derivative to get MRS =MUx/MUy. a) Derive the demand bundle (X*,

  • 1 Page Econ_102A_PS1
    Econ_102A_PS1

    School: UC Riverside

    Course: Econ 102a

    Summer 2009 / Econ 102A / Homework 1 / Due in Class Q1. Consider an economy with two goods X and Y with respective prices PX and PY. The consumer has M dollars of income. (a) Write down the consumers budget constraint. Write down her budget set. (b) Draw

  • 14 Pages Mid-Term Without Answers
    Mid-Term Without Answers

    School: UC Riverside

    Course: Econ 102a

    MID-TERM EXAM - CHAPTERS 1-8 Name: _ Date: _ Section 1 15 points MATCHING 5 Points Match the items below by entering the appropriate code letter in the space provided. A. CPA F. Corporation B. Budgeting G. Assets C. SEC H. Equities D. Proprietorship I. Ex

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