Figure 1-S05
U1
U2
P2
P
P1
1
2
x1
x2
Partial Answers to Micro Prelim of June 2005
1. Two farmers, 1 and 2, grow rice at opposite ends of an island. Every year, rain falls
on one end of the island, and not on the other (at dierent ends dierent years). At t
Econ 001: Midterm 1 Answer Key
October 10, 2006
Instructions:
This is a 60-minute 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 Recita
Econ 001: Midterm 1 Answer Key
February 7, 2006
Instructions:
This is a 60-minute 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 Recita
Econ 001: Midterm 1
October 13, 2007
Instructions:
This is a 60-minute 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 Instru
Microeconomic Theory 501b
Problem Set 9: Suggested Solutions
April 11, 2008
1
Bilateral Trading
(a) Trade is ex post ecient if v c. The surplus is given by the expression
E [v c|v > c]
which can be calculated from
1
v
E [v c|v > c] =
(v c)dcdv
0
0
1
=
0
=
Economics 501, Microeconmics, Spring 2008
Homework 8
Due April 3, 2008
8.1 First Price Auction
(a) Given the result in class where the valuation is ti , a reasonable
guess is that bi (ti ) = 1 + 1 ti : We now show that this is in fact an
2
2
equilibrium.
Question 1 [3 points]:
For a normal distribution, approximately _% of the data lie within one standard
deviation of the mean; approximately _ % lie within two standard deviations of the
mean, and approximately _% lie within three standard deviations of th
Question 1 [12 points; 2 points apiece]:
Indicate whether each of the following statements is TRUE or FALSE.
a) Income data are typically skewed right.
TRUE
FALSE
b) If two events are mutually exclusive, they are also independent.
TRUE
FALSE
c) It is theo
Paper 9
Please attempt ALL 40 questions in this question book.
All questions carry EQUAL MARKS.
<1>.
What is the break-even point at expiry of a short 12,000 Hang Seng Index (HSI) call
option if the premium is 60 points?
A
B
C
D
11,940 points.
12,000 poin
Paper 8
Please attempt ALL 40 questions in this question book.
All questions carry EQUAL MARKS.
<1>.
In 2001, Company XYZs quick ratio was 1.5 times, but has fallen to 1.25 times in
2002. As a financial analyst, what is your interpretation of this change?
Econ Honors: Midterm 1 (Anthony Yuen)
October 13, 2007
Instructions:
This is a 60-minute examination.
Show all work. Use diagrams where appropriate and label all diagrams carefully.
This exam is given under the rules of Penn's Honor system.
The use of