Econ 001 Dr. Spiegel: Midterm 1
October 7th, 2010
Instructions:
!This is a 60minute examination.
!Write all answers in the blue books provided. Show all work. Use diagrams where
appropriate and label all diagrams carefully.
!Write your name and your Reci
Econ 001: Midterm 2 (Dr. Spiegel)
November 15, 2010
Instructions:
!
!
This is a 60minute examination.
Write all answers in the blue books provided. Show all work. Use diagrams where
appropriate and label all diagrams carefully.
Write your name and your R
Econ 001: Midterm 2 (Dr. Spiegel)
Nov 16, 2005
Instructions:
This is a 60minute examination.
Write all answers in the blue books provided. Show all work. Use diagrams where
appropriate and label all diagrams carefully.
Write your name and your Recitation
MODULE 1: OPPORTUNITY COST
Case 1.1: The Hong Kong Hilton
Why was it profitable to demolish this profitable hotel?

The hotel was profitable, made $25,000,000 in profits in 1994
Just underwent a huge renovation, put in a moving chandelier
It was expected
Econ 001601
Spring 2014 HW #1
Due 27/01/2014
1) What is the difference between the dollar cost and opportunity cost of an alternative?
The opportunity cost includes the time value of the alternative as well as the dollar cost
difference with that alterna
Econ 001601
Spring 2014 HW #2
Due 03/February/2014
1) State whether the following statements are true or false in the case of bilateral trade. For a, b, c,
and d: If true, explain why; if false, provide a counterexample. For e and f: If true, provide an
Econ 001601
Spring 2014
Homework #3
Due 10/February/2014
1) For each of the following pairs of goods, state which demand curve more likely to be relatively
elastic and why.
a. Toothpaste in general and Crest brand toothpaste.
Crest because there are othe
Econ 001601
Homework # 5
Due 3/17/2014
1
Suppose that Janet has $10 to spend on candy corn and snickers bars. Snickers bars
cost $1 each and a bag of candy corn costs $2.
a Draw Janets budget constraint. Label what is affordable and not affordable for
he
Homework #6 Solutions
Due March 24th, 2014
Econ 001601
REMARK: Throughout the problem set we refer to the concept of LongRun (industry) Supply, which I
did not clearly specify in the class. However you are familiar with the basic intuition behind it. In
Homework 8
Due April 21th 2014 (You just need to turn in the first question since we have not covered Externalities yet.)
Econ 001601
1. (Present Value) For each of the following assets, determine the present value of the stream of
payments. If it is a u
Homework 9
Due: April 28th 2014
Econ 001601
1. The citizens of Buchanan, Michigan are considering upgrading their streets' intersections into
roundabouts. Suppose that roundabouts must be purchased in discrete units (you cannot
have, for example, a third
Homework 7
Due April 14th 2014
Econ 001601
1) Suppose that Jack owns a recording company, Angry Jack Records, and that he is a monopolist
in the market for records. He faces a demand curve given by P = 30 Q, and his marginal
revenue is given by MR = 30 2
Econ 001: Midterm 2 (Dr. Spiegel)
November 15, 2010
Instructions:
!
!
This is a 60minute examination.
Write all answers in the blue books provided. Show all work. Use diagrams where
appropriate and label all diagrams carefully.
Write your name and your R
Econ 001: Midterm 1 (Spiegel)
October 13, 2009
Instructions:
!This is a 60minute examination.
!Write all answers in the blue books provided. Show all work. Use diagrams
where
appropriate and label all diagrams carefully.
!Write your name and your Recitat
Econ 001: Midterm 1 (Spiegel)
October 13, 2009
Instructions:
!This is a 60minute examination.
!Write all answers in the blue books provided. Show all work. Use diagrams
where
appropriate and label all diagrams carefully.
!Write your name and your Recitat
Econ 001: Midterm Exam
(Dr. Spiegel) October 6, 2008
Instructions:
!
!
!
!
!
!
This is a 60minute examination.
Write all answers in the blue books provided. Show all work. Use diagrams where
appropriate and label all diagrams carefully.
Write your name a
10/5/11 2:32 PM
Answers to Spiegel Fall 2005 Midterm 2
By Andrew Clausen <[email protected]>
Part I: Multiple Choice Questions (4 points each/20 points total):
1. Greg spends all of his income on apples and oranges. If his income increases
by 20 perc