STRATEGIC AND INNOVATIVE
MARKETING
MBA 1 (A)
ASSIGNMENT
UK HOUSE PRICES
PRESENTED TO:
Ms. Ellie Semsar
Sheikh Saeed
AUGUST 2009
LONDON SCHOOL OF COMMERCE
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Exercise Set 2 (Econ 207-Kemal YILDIZ)
1 Consider your preferences for five dollar bills and ten dollar bills (and suppose
that you could have partial 10 and 5 bills).
A: Suppose that all you care about is how much money you have, but you dont
care whethe
Chapter 8 and 11
Exercises and Problems
VAT Question
During August the following transactions took place
(assume VAT is 18%)
1 Aug. Purchased merchandise for TL 28.000 on credit (Including
VAT) , VAT included
3 Aug. Received maintenance invoice for TL 1.4
8&11
Liabilities
Chapter 8
Mugan-Akman 2012
2
Liabilities
obligations of an entity to make a future payment
or to deliver goods or services to the third parties
in the future in return for cash borrowed or service
used or goods acquired
classified accor
1. NEW VS. OLD KEYNESIAN MODEL WITHIN LUCAS CRITIQUE
Common: Deman side determined, nominal rigidities (?)
Vs: *New is not all prices fixes, chance to change the price while old assumes no price change
*New is based on rational expectations theory while o
Exercise Set (covers the relevant parts of chapters 3,4,5,6,9)
1) Deniz faces a choice set X = cfw_A, B, C, D. Her preferences are defined by A
Are these preferences complete? Are these preferences transitive?
B, B
D, B
C, D
A.
2) Meryem faces a choice se
Hicksian vs Slutsky
Assume a person has a utility function U = XY, and money income of $10,000, facing an initial price of X
of $10 and price of Y of $15. If the price of X increases to $15, answer the following questions:
(a) What was the initial utility
Exercise Set 5
Chp7 7.1: George is seen to place an even-money $100,000 bet on the Bulls to win the NBA finals. If
George has a logarithmic utility of wealth function and if his current wealth is $1,000,000, what must he
believe is the minimum probability
ECON207 Quiz3
(Bring in class on March 25, 2015)
1) (30 points) Assume a person has a utility function U = XY, and money income of $15,000, facing an
initial price of X of $10 and price of Y of $15. If the price of Y decreases to $10, answer the following
ECON207
EXERCISE SET 1 with Solutions
1) Which of these utility functions represent the same preferences as U ( x, y)
a.
b.
c.
d.
xy ?
U ( x, y) 10 xy
U ( x, y) xy
U ( x, y) ln x ln y
All of the above represent the same preferences. (Hint: calculate MRS
Exercise Set 3
1) A firm has production function f(k,l) = l0.5 (k 1)0.5. The prices of the inputs are v and w respectively.
a) Find MPk, MPl and RTS.
b) If k is fixed at 5, what is the short-run total cost function, short-run marginal cost function and
sh
Exercise Set 4
1) Question 12.1: Suppose there are 100 identical firms in a perfectly competitive industry. Each firm
has a short-run total cost function of the form
C(q)=(1/300)q3+0.2q2+4q+10
a. Calculate the firms short-run supply curve with q as a func
ECON207 Exercise Set2
1) Consider the utility function u(x1, x2) = (x1-2)(x2-3) with accompanying budget constraint p1x1
+ p2x2 = I.
a) Write down the indifference curve for this utility function.
b) Form the associated Lagrange function and find the asso
ECONOMICS TEST: MARKET FAILURE MARCH 2011
Community Surplus: When market is in equilibrium, with no external effects, its
in Pareto optimality: impossible to make someone better off without making
someone else worse off. If market is Pareto optimal, its s
ECONOMICS TEST: TRADE APRIL 2011
Gains From Intnl Trade: is the exchange of g-s between countries. Gains are.
Lower Prices- Main gain is the ability to buy goods at lower prices than
domestic ones. Consumer buy less expensive products, producers buy
less