Econ. 310-1: Microeconomic Theory
Problem Set #1
Professor Alessandro Pavan
Northwestern University
Posted: Monday September 21, 2015. Due: Monday, September 28, 2015.
(Please staple all pages)
1. (Reasoning at the margin, sunk costs, and optimal choices)

Econ. 310-1: Microeconomic Theory
Problem Set #3
Professor Alessandro Pavan
Northwestern University
Posted: Monday October 5, 2015. Due: Monday October 12, 2015
(Staple all pages)
1. (Price-Consumption, Income-Consumption, Engel, and Demand Curves) (20
po

1
Econ 310-1 Microeconomic Theory
Problem Set #5 - Solutions
PROFESSOR ALESSANDRO PAVAN
Northwestern University
1. (Labor Supply) Mary preferences over daily consumption (C) and daily leisure (H,
s
up to 24 hours) are represented by the function U (H; C)

1
Econ 310-1 Microeconomic Theory
Problem Set #4 - Solutions
PROFESSOR ALESSANDRO PAVAN
Northwestern University
1. (Income and Substitution Eects) (20 points)
(a) From
4 1 2
x 5 x5
5 1 2
2 4 3
x5 x 5
=
5 1 2
M U x1 =
M U x2
x2
we have that Arin M RS(x1 ;

Econ. 310-1: Microeconomic Theory
Problem Set #6
Professor Alessandro Pavan
Northwestern University
Posted: Monday October 26, 2015. Due: Monday, November 2, 2015
(Staple all pages)
1. (MRTS , Marginal Products, Returns to Scale) (50 points)
For each of t

Econ. 310-1: Microeconomic Theory
Problem Set #5
Professor Alessandro Pavan
Northwestern University
Posted: Monday October 19, 2015. Due: Monday October 26, 2015
(Staple all pages)
1. (Labor Supply) (50 points) Mary preferences over daily consumption (C)

Econ. 310-1: Microeconomic Theory
Problem Set #7
Professor Alessandro Pavan
Northwestern University
Posted: Monday November 2, 2015. Due: Monday November 9, 2015
(Staple all pages)
1. Short-Run Supply and Market Equilibrium (25 points) The best olives in

1
Econ 310-1 Microeconomic Theory
Problem Set #3 - SOLUTIONS
PROFESSOR ALESSANDRO PAVAN
Northwestern University
1. (Price-Consumption, Income-Consumption, Engel and Demand Curves)
(a) The price-consumption curve is a 45-degree line from the origin. Observ