Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2010
Problem Set No. 2
Due by: Thursday, September 2 (4:30 pm)
2.1 Prove that if is a rational preference relation (complete and transitive) that: (i)
(ii) is transitive. Are these orderings complet
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2010
Problem Set No. 1
Due by: Friday, August 27
1.1. Graph the sets A and B below and decide whether or not they are convex.
cfw_ ( x, y ) : x 0, y 0,
B = cfw_ ( x, y ) : x 0, y 0,
A=
2 x + y + Ma
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2010
Problem Set No. 4
Due by: Thursday, September 16, 2010
4.1 Expenditure Functions and Hicksian Demands: Find the expenditure functions and Hicksian
demands for the following preferences:
2
a) U
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2010
Problem Set No. 10 Due by: Thursday, November 19
1. Do Question 5, Problem Set 9
2. (Market failure, NOT covered in class). Consider a simple model with H identical consumers, 2 produced
good p
Economics 601 Harvey Lapan
Microeconomic Analysis I
Fall 2010
Problem Set No. 9 Due by: Thursday, November 4, 2010
1. Do problem #8 from Problem Set No. 8.
2. Problem 10.C.3 in MWG textbook (p. 344).
3. (Generalization of Problem 2 above): There are J fir
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2010
Problem Set No. 5
Due by: Thursday, September 23, 2010
5.1 Duality Recovering preferences. Given the following expenditure functions, find the corresponding
indirect utility function
i. e ( p,
Economics 601 Harvey Lapan
Microeconomic Analysis I
Fall 2010
Problem Set No. 3
Due by: Thursday, September 9
3.1 CES preferences, again (MWG, 3.D.5)
Consider the CES utility function analyzed in problem 2.7, but for simplicity put 1 = 2 = 1 so that the
f
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2010
Problem Set No. 6
Due by: Thursday, October 14, 2010
Do Problems 5.4 and 5.5 from Problem set 5
1. Consider a two good world, where preferences are strictly quasi-concave and the expenditure fu
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2010
Problem Set No. 12: Due by: Thursday, December 9, 2010
Do Problems 5 and 6 from Problem Set 11
1. An individual with monotonically increasing and strictly concave Bernoulli utility function u(
Economics 601 Harvey Lapan
Microeconomic Analysis I
Fall 2010
Problem Set No. 8 Due by: Thursday, October 28
1. Suppose inputs ( z1,., zn ) are used to produce good q according to the following production function:
q f ( z1,., zn ) . Let factor prices (W1
Economics 601 Harvey Lapan
Microeconomic Analysis I
Fall 2010
Problem Set No. 11 Due by: Thursday, December 2, 2010
1.
Finish Problem #5 from Problem Set #10 (if not already done)
2.
[Monopoly and Price Regulation]. Consider a good, y, produced by a monop
Economics 601 Harvey Lapan
Microeconomic Analysis I
Fall 2010
Problem Set No. 7
Due by: Thursday, October 21
8.1. Let Y R be a production set. The technology is said to:
Be Additive if y Y and y Y implies ( y + y ) Y .
L
Exhibit Non-decreasing returns to