Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2013
Problem Set No. 10 Due by: Thursday, December 5
1. (Market failure, NOT covered in class). Consider a simple model with H identical consumers, 2
produced goods plus the numeraire, and 2 types o
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2013
Problem Set No. 9 Due by: Thursday, November 7
Finish Problems #3 and 4 from Problem Set 8.
1. Let c( w, q ) denote the cost function of a competitive firm, where q is output and w is the vecto
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2013
Problem Set No. 3
Due by: Thursday, September 19, 2013
Finish problems 7 and 8 from problem set 2.
1.
Relationship Hicksian and Marshallian Demands: Given the utility function U x1, x2 , let
xi
Economics 601 Harvey Lapan
Microeconomic Analysis I
Problem Set No. 11 Due by: Thursday, December 12, 2013
Do as many problems as you can.
1.
Fall 2013
[INSURANCE] Individual A, with Bernoulli utility function u A ( w ) has initial wealth w0 . With probab
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2013
Problem Set No. 6 due Thursday, October 17, 2013
Finish problems #4 and 5 from Problem set 5.
1. Let Y R L be a production set. The technology is said to:
Be Additive if y Y and y Y implies ( y
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2013
Problem Set No. 1
Due by: Thursday, September 5
y x z x . If z y and z x , what can
1) If is a rational preference relation, prove z y,
you infer about x as compared to y ?
2) We have discussed
Economics 601 Harvey Lapan
Microeconomic Analysis I
Fall 2013
Problem Set No. 2
1.
Due by: September 12
1
1
Consider the greatest integer function f ( z ) : R R , which is denoted [ z ] . This function assigns
the largest integer, not larger than z, to ea
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2013
Problem Set No. 4 Due Thursday, Sept. 26, 2013
1. Stone-Geary utility function
Assume that, for the 2-good case, the utility function has the so-called Stone-Geary form:
u ( x1 , x2 ) = x1 1 )
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2013
Problem Set No. 5
Due by: Thursday, Oct. 3, 2013
Do Q1, Problem Set 4
1. Consider a two good world, where preferences are strictly quasi-concave and the expenditure function is
given by: e ( p1
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2013
Problem Set No. 7
Due: Thursday, October 24
Finish Problem Set #6
(
)
w x s.t. f ( x ) q and
1. Let xi ( w, q ) be the conditional factor demands i.e., they solve Min
i ii
x
Let C ( w, Q ) be t
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2013
Problem Set No. 8 Due by: Thursday, October 31
Finish Problem Set 7, #3 and #7.
1. A firm has production set Y 4 which can be represented by the function F [ y ] 0 where:
F [ y ] =( 2 y3 ) ( y4