Jenny Chan
861091995
Section 121
Assignment #1
Question 1
1. budget set: the set of all affordable bundles of goods
budget line: a collection of all possible affordable bundles when entire income is s
ECON 104A Winter 2018
Answers #1 Derivatives
1. (a) AT C = 10; M C = 10
(b) AT C =
160
Q
(c) AT C =
10
p
; MC
Q
+ 10Q; M C = 20Q
=
=
(b)
dy
dx
dy
dx
(c)
dy
dx
=
4(ln x)3
x
3. (a)
@U
@x
=
1
p
; @U
2 x
ECON 104A Winter 2018
Chapter 8 Practice Problem Solutions: Cost Curves
1. Consider the production function Q = LK. The cost of labor is w, the cost of capital
is r. (You can use a graphing calculator
ECON 104A Winter 2018
Chapter 6 and 7 Practice Problems
1. (This is a question about income and substitution eects from Chapter 5) Consider
the graph below that shows two bundles: one before a price c
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Assignment 4
Consider the market for computers, if the demand function is = 5600 4. Answer the
following questions:
(1) When the price of computer is $700, what is the price elasticity of demand? Is t
6.4 Substituting Inputs
The slope of an isoquant shows the ability of a firm to replace one input with another (holding
output constant).
Marginal rate of technical substitution (MRTS) is the slope
ECON104A: Intermediate Microeconomic Theory
Assignment #5
Due: Tuesday, November 17, 2015
Calculate the returns to scale for the following production functions, which
use both capital (K) and labor (L
ECON104 A: Intermediate Microeconomic Theory
Assignment #3
Due: Thursday, October 8, 2015
(Please write down your Name, Student ID, and Discussion Section number when you turn in the
assignment)
Quest
Jenny Chan
861091995
Section 121
Assignment 6
Question 1
1
q=
1
K 2 L2
r = $4
w = $16
1. q = 50
1
50 =
1
K 2 L2
MP L w
=
MP K r
MP L =
C
L
1
C
L
1 2
L
2
=
1
2
)
K
=
K
1
2
1
L2
MP K
=
C
K
C
K
1
K
2
=
Jenny Chan
861091995
Section 121
30 June 2015
Assignment 2
Question 1
1. Marginal utility of goods x and y.
u(x,y) = x + y
du
dx =1
du
dy =1
MU x =1
MU y =1
2. Marginal utility of goods x and y.
1
3
u
3.3 Budget Constraint
Consumers maximize utility subject to constraints.
If we assume consumers cant save and borrow, current period income determines a consumers
budget.
Given prices of pizza (p1)
Challenge: The Rising Cost
of Keeping on Truckin
Background:
In recent years, federal and state fees have increased substantially and
truckers have had to adhere to many new regulations.
The many a
8.3 Short-Run Market Supply
(Identical Firms)
The market supply curve is the horizontal sum of the firm supply curves.
8.3 Short-Run Market Supply
(Different Firms)
The market supply curve is the ho
3.2 Utility
Utility refers to a set of numerical values that reflect the relative rankings of various bundles
of goods.
The utility function is the relationship between utility measures and every po
ECON 104A Winter 2018
Chapter 6 and 7 Practice Problems
1. (This is a question about income and substitution eects from Chapter 5) Consider
the graph below that shows two bundles: one before a price c
ECON 104A Winter 2018
Chapter 8 Practice Problems: Cost Curves
1. Consider the production function Q = LK. The cost of labor is w, the cost of capital
is r. (You can use a graphing calculator for the
ECON 104A Winter 2018
Chapter 4 Practice Problems: Budget Constraints and Utility Maximization
1. Write the equation for each of the budget constraints. Then, on separate graphs, draw
the budget const
ECON 104A Winter 2018
Chapter 5 Practice Problems: Demand, Engel Curves
1. Douglas Cornelds preferences are represented by the utility function U (x; y) = x2 y 3 .
The prices of x and y are px and py
ECON 104A Winter 2018
Practice Problems #1 Derivatives
1. Consider the following equations that represent total cost curves. For each, write
the equations that represent the average total cost [Recall
ECON 104A Winter 2018
Chapter 5 Practice Problem Solutions: Demand, Engel Curves
1. U = x2 y 3 , Px ; Py ; I
(a) MUx = 2xy 3 ; M Uy = 3x2 y 2 ; M RSxy =
Set
2y
3x
=
Px
Py
!y=
3xPx
2Py
2y
3x
is the opt