LECTURE NOTES ON MICROECONOMICS
ANALYZING MARKETS WITH BASIC CALCULUS
William M. Boal
Part 2: Consumers and demand
Chapter 6: Market demand and elasticity
Problems
(6.1) [Price elasticity] Suppose a consumer always spends a total of $100 on CDs every
year
LECTURE NOTES ON MICROECONOMICS
ANALYZING MARKETS WITH BASIC CALCULUS
William M. Boal
Part 4: General equilibrium and market power
Chapter 16: Game theory
Problems
In this problem set, the phrase Nash equilibrium refers to a Nash equilibrium in pure
strat
LECTURE NOTES ON MICROECONOMICS
ANALYZING MARKETS WITH BASIC CALCULUS
William M. Boal
Part 2: Consumers and demand
Chapter 7: Substitution and income effects
Section 7.1: Decomposing the effects of a price change
Proving the Law of Demand. For essentially
LECTURE NOTES ON MICROECONOMICS
ANALYZING MARKETS WITH BASIC CALCULUS
William M. Boal
Part 4: General equilibrium and market power
Chapter 15: Collusion, Cournot oligopoly, and monopolistic competition
Problems
(15.1) [Joint profit maximization] Two firms
LECTURE NOTES ON MICROECONOMICS
ANALYZING MARKETS WITH BASIC CALCULUS
William M. Boal
Part 4: General equilibrium and market power
Chapter 14: Monopoly
Problems
(14.1) [Barriers to entry] Suppose development of a particular type of software costs $50
mill
LECTURE NOTES ON MICROECONOMICS
ANALYZING MARKETS WITH BASIC CALCULUS
William M. Boal
Part 3: Firms and competition
Chapter 11: Profit maximization and supply
Problems
(11.1) [Profit maximization] Indicate whether each statement is true or false. Explain
LECTURE NOTES ON MICROECONOMICS
ANALYZING MARKETS WITH BASIC CALCULUS
William M. Boal
Part 2: Consumers and demand
Chapter 8: Measuring consumer welfare
Section 8.1: The impact on consumers of price changes
Many actions of government increase or decrease
LECTURE NOTES ON MICROECONOMICS
ANALYZING MARKETS WITH BASIC CALCULUS
William M. Boal
Part 3: Firms and competition
Chapter 10: Cost
Problems
(10.1) [Minimizing cost] Suppose a firm wishes to produce 30 units of output per hour at
minimum cost. Machines c
LECTURE NOTES ON MICROECONOMICS
ANALYZING MARKETS WITH BASIC CALCULUS
William M. Boal
Part 2: Consumers and demand
Chapter 5: Demand
Section 5.1: Individual demand functions
Determinants of choice. As noted in the previous chapter, we assume each consumer
LECTURE NOTES ON MICROECONOMICS
ANALYZING MARKETS WITH BASIC CALCULUS
William M. Boal
Part 1: Mathematical tools
Chapter 2: Introduction to multivariate calculus
Philosophy is written in this grand bookI mean the universewhich stands
continually open to o
LECTURE NOTES ON MICROECONOMICS
ANALYZING MARKETS WITH BASIC CALCULUS
William M. Boal
Part 2: Consumers and demand
Chapter 4: Budgets and choice
Section 4.1: The budget constraint
Affordable bundles. Consumers choose the most preferred bundle they can aff
LECTURE NOTES ON MICROECONOMICS
ANALYZING MARKETS WITH BASIC CALCULUS
William M. Boal
Part 2: Consumers and demand
Chapter 3: Preferences and utility
Section 3.1: Preferences and indifference curves
Bundles. Consumers face a wide variety of types of goods
LECTURE NOTES ON MICROECONOMICS
ANALYZING MARKETS WITH BASIC CALCULUS
William M. Boal
Part 1: Mathematical tools
Chapter 1: Review of basic calculus
If in other sciences we should arrive at certainty without doubt and truth without
error, it behooves us t
LECTURE NOTES ON MICROECONOMICS
ANALYZING MARKETS WITH BASIC CALCULUS
William M. Boal
Part 5: Further topics
Chapter 17: Externalities and public goods
Problems
(17.1) [Marginal benefit and marginal cost] Let Q denote the total number of miles of a
highwa