Homework 2
Intermediate Micro
1. A survey shows that the typical Brown undergraduate has $6,000 to spend each year on books
and entertainment. That typical student spends $2000 on books and the remain
Intermediate Micro Homework 2 Solution
Susan Elmes
Fall 2012
1. A survey shows that the typical Brown undergraduate has $6,000 to spend each year on books and
entertainment. That typical student spend
Homework 1
Microeconomics
1. For each of following utility functions graph the indifference curves through the bundles (2,3)
and (2,4). Find one other bundle on each indifference curve. For each of th
Homework 11 Suggested Solution
1. Sheila is endowed with 8 pounds of coffee (x-good) and 16 quarts of milk (y-good) and Bruce
is endowed with 4 pounds of coffee and 16 quarts of milk. We can represent
Homework 5 Solutions Fall 2011
Alex Frouman
Note: graphs not to scale
There are 8760 hours in a (non-) leap year. Assume that a typical upper middle income worker earns
$80 per hour and has no other s
Homework Assignment 4 Solutions to 7 to be added
Grading based on 1,2,3 (and bouns)
1. Charles likes to drink sparkling waters. His preferences on San Pelligrino water (x) and
Vintage seltzer water (y
Lecture 12
Game Theory 2:
Applications of Common
Knowledge of Rationality
1
What is common knowledge:
The Messenger Game
Two generals stationed at two opposite sides of a city
controlled by an enemy
Lecture 15
Play randomly
1
Dominance
Definition: A strategy si* strictly dominates si
if and only if
i
*
i
(s , s i )
i
( si , s i )
s i.
si* is a strictly dominant strategy for player i
if si* strict
Lecture 3: Consumer Problem
Budget and Indifference Curve
Consumers problem
Choose the best from the set of feasible
alternatives.
Example
a consumer has $100 to spend on beer and
water
the price of b
Math 151. Rumbos
Spring 2008
1
Solutions to Assignment #21
1. Fortyeight measurements are recorded to several decimal places. Each of these
48 numbers is rounded o to the nearest integer. The sum of t
Intermediate Microeconomics - Final Examinations
May 12, 2004
Answer all six questions. Good luck!
Time: 2 hours, 30 minutes
1. (5 points) De ne:
i) Pareto optimal allocation.
ii) Dominant strategy.
i
Intermediate Microeconomics - Midterm Examinations
October 23, 2006
Answer all four questions. Good luck!
1. (10 points) De ne the following terms brie y:
i) Price Elasticity
ii) Marginal Rate of Subs
ECON 3211: Intermediate Microeconomics Final
Examination
Professor Prajit Dutta
Question 1
a. Draw the indifference curves representing perfect complements. Explain where the
optimal bundle typically
HW 6 Solutions- question 3 still missing.
1. Scarlett wants to maximize EU, so we write
EU=.1(10000-7500+C-rC)^(1/2)+.9(10000-rC)^(1/2) =.1(2500+C(1-r)^(1/2)+.9(10000-rC)^(1/2)
Differentiate wrt C, se
Questions 1f) and 4 not graded.
Please note for C, the MRS is undefined on the points asked for (2,3) and (2,4).
However, on the other line, ie on a point like (4,2), how much y would you be willing t
Homework 5 Solutions Fall 2011
Alex Frouman
Note: graphs not to scale
If you saw the movie The Perfect Storm then you know that commercial shing is a risky venture. In
particular a shing boat cannot b
Homework 7
1. A firm produces a soft drink using two ingredients, sugar (S) and bubbly water (B) in fixed
proportions: 6 tablespoons of sugar per 12 oz of bubbly water.
a) What is the production funct
Homework Assignment 4
1. Charles likes to drink sparkling waters. His preferences on San Pelligrino water (x) and
Vintage seltzer water (y) can be represented by the utility function U(x,y) = 4lnx + l
Homework 8
1. There are three firms in the printing business. Firm 1 has a total cost curve given by
C1 (Q1 ) .1Q12 250 where Q is measured in books printed per day. Firms 2 and 3 have identical
costs
Homework 9
1. Briefly explain how the following statements could be true. In your explanations you should
include a diagram and a brief discussion of how elasticity is relevant (or is not relevant) to
Homework 3
Intermediate Microeconomics
1. Each month Felix purchases household utilities. His preferences over gallons of heating oil (x)
and units of other utilities (y) can be represented by the uti
Homework 10
1. Sheila and Bruce are taking a long plane flight. Sheila brought 10 bags of peanuts (x) and 10
bags of chips (y). Sheila's utility function is US(x,y) = lnxS + lnyS . Bruce brought 12 ba
Homework 5
1. There are 8760 hours in a (non-) leap year. Assume that a typical upper middle income worker
earns $80 per hour and has no other source of income. The worker can use his income to purcha
Homework 11
Do NOT Turn In
1. Roebuck is a manufacturer of sweatshirts and has an exclusive contract to sell sweatshirts to the CU
community (i.e. Roebuck is a monopolist). The total cost curve of man
Homework 7 Solutions Fall 2011
Alex Frouman
The Relative Bagel Shoppe makes bagels in NYC. The shop uses both labor and raw materials (ingredients) to make bagels. The relationship between the hours o
Homework 6
1. Recall Scarlett the OB-GYN from class. Suppose the probability that she is sued is .1 and her
income is 10000. In the case she is sued she will lose 7500 in the settlement. She may purch
Homework #5
Ben Drucker, Douglas Kessel, Ethan Kochav
Question 1
(a)
y
700,800
8,760
L
(b)
Proportions altered for clarity. Drawing is not properly scaled.
700,800
y
690,800
BL
BL
or
ig
in
al
ta
x
(7,