Econ 401: Intermediate Microeconomic Theory
Winter 2016
Homework Problems 6
Please bring written answers to your discussion section on Thursday, February 25.
Part 1: Regular Questions
For mathematical
Econ 401: Intermediate Microeconomic Theory
Winter 2016
Section Problems 5
Some of these problems will be discussed in your section on Thursday, February
5, but your GSI will not be able to cover all
Econ 401: Intermediate Microeconomic Theory
Winter 2016
Homework Problems 3
Answers.
Part 1: A Data Task
There were seven columns to ll with numbers. The formulas for these columns, in the order in
wh
Econ 401: Intermediate Microeconomic Theory
Winter 2016
Homework Problems 2
Answers.
Part 1: Regular Questions
(For mathematical questions, explain the reasoning that leads you to your answer.
If you
Econ 401: Intermediate Microeconomic Theory
Winter 2016
Homework Problems 5
Suggested Solutions.
Part 1: A Mini Essay Question
1. There are many possible good answers.
Part 2: Regular Questions
6
0
2
Econ 401: Intermediate Microeconomic Theory
Winter 2016
Section Problems 2
Answers
1. No, it does not necessarily follow. Consider for example an agent who chooses: x from cfw_x, y,
y from cfw_y, z an
Econ 401: Intermediate Microeconomic Theory
Winter 2016
Section Problems 5
Suggested Solutions
1. The consumer has a utility function U (q, N ) = 2 q + N , faces a price
of consumption p = 1, has a
Econ 401: Intermediate Microeconomic Theory
Winter 2016
Section Problems 6
Suggested Solutions
1. Any price between 7 and 8 is an equilibrium price. At such a price
demand and supply are 7.
2. The equ
Econ 401: Intermediate Microeconomic Theory
Winter 2016
Course Information
Course description: The subject of this course are households and rms economic
choices, and the way in which these choices in
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Econ 401: Intermediate Microeconomic Theory
Winter 2016
Section Problems 4
These problems will be discussed in your section on Thursday, January 28.
1. Your GSI will briey talk to you about the data t
Econ 401: Intermediate Microeconomic Theory
Winter 2016
Section Problems 2
This problems will be discussed in your section on Thursday, January 14.
1. If an economic agent satises the Weak Axiom of Re
Repeated Games
and Collusion
Topic 20:
Repeated Games and Collusion
Repeated Games
and Collusion
Bertrand duopoly:
Joint Prot
Maximization
Finitely Repeated
Games
Innitely Repeated
Prisoners
Dilemma
B
Moral Hazard
Topic 26:
Moral Hazard
Moral Hazard
Introduction
Introduction
Introduction
An Example
An Example
The First Best
The Second Best
The First Best
Hidden characteristics (Adverse Selection)
E
Econ 401: Intermediate Microeconomic Theory
Winter 2009
Homework Problems
Topic 2: Elasticities and Tax Incidence
Please bring written answers to your section
on Wednesday, January 14, or Thursday, Ja
Econ 401: Intermediate Microeconomic Theory
Winter 2009
Homework Problems
Topic 5: Demand Functions
Please bring written answers to your section
on Wednesday, January 28, or Thursday, January 29.
Part
Econ 401: Intermediate Microeconomic Theory
Winter 2009
Homework Problems
Topic 4: Optimal Consumer Choice
Please bring written answers to your section
on Monday, January 26, or Tuesday, January 27.
P
Econ 401: Intermediate Microeconomic Theory
Winter 2009
Homework Problems
Topic 3: Preferences and Utility
Please bring written answers to your section
on Tuesday, January 20, or Wednesday, January 21
Version 1 with Solutions
Quick Answers
1. B
2. C
3. C
4. C
5. A
6. D
7. A
8. B
9. B
10. D
11. C
12. D
13. D
14. D
15. C
16. B
17. C
18. B
19. C
20. A
21. D
22. A
23. A
24. A
25. B
26. D
27. D
28. D
29
Version 1
Page 1
Mark the box corresponding to the best answer. Questions are worth 1 point or 2 points,
where the point value is indicated at the start of the question.
1.
[1] Katie has monotonically
Version 1
Page 1
Mark the box corresponding to the best answer. Questions are worth 1 point or 2 points,
where the point value is indicated at the start of the question.
1.
[1] A consumer has utility
Version 1
Page 1
Mark the box corresponding to the best answer. Questions are worth 1 point or 2 points,
where the point value is indicated at the start of the question.
1.
[1] Katie has monotonically
Econ 401: Intermediate Microeconomic Theory
Winter 2016
Midterm 1
Version 2
This midterm consists of 30 questions. You must answer all questions.
For each question you have a choice between four ans
Econ 401: Intermediate Microeconomic Theory
Winter 2016
Midterm 1
Version 1
1. 2 points
A rational economic agent seeks to minimize the calories (c) and the sodium (s) in his meals. His
utility functi