Economics 601 Harvey Lapan
Microeconomic Analysis I
Fall 2011
Problem Set No. 3
Due by: Thursday, September 8
1
1
3.1 Consider the greatest integer function f ( x ) : R R , which is denoted [ x ] . This function assigns
the largest integer, not larger tha
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2012
Problem Set No. 4
Due by: Monday, September 17, 2012
4.1 Expenditure Functions and Hicksian Demands: Find the expenditure functions and Hicksian
demands for the following preferences:
2
a) U x1
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2012
Problem Set No. 2
Due by: Thursday, August 30 (4:00 pm)
is a rational preference relation, prove that x3
2.1 If
x3
x2 , x2
x1 x3
x1 . If x3
x2 and
x1 , what can you infer about x2 as compared t
Economics 601 GianCarlo Moschini
Microeconomic Analysis I
Problem Set No. 14 (Last one!)
Fall 2008
Not due (do it at your leisure before the final exam)
1. A monopolist with cost function C ( x ) = c x , where c > 0 , operates in a market with (inverse) m
Economics 601 Harvey Lapan
Microeconomic Analysis I
Fall 2011
Problem Set No. 12 Due by: Thursday, December 8, 2011
1. [INSURANCE] Individual A, with Bernoulli utility function u A ( w ) has initial wealth w0 . With
probability A will face a loss L, while
Economics 601 Harvey Lapan
Microeconomic Analysis I
Fall 2011
Problem Set No. 11 Due by: Thursday, December 1, 2011
1. (Market failure, NOT covered in class). Consider a simple model with H identical consumers, 2 produced
goods plus the numeraire, and 2 t
Economics 601, Microeconomic Analysis I
Fall 2011
Harvey Lapan
Midterm 2
Answer Any Three Questions
1. Answer all parts.
(a) (Revealed preference) Assume the Weak Axiom of Revealed Preference (WARP) is known to hold.
In a two good world, the person is obs
Economics 601 Harvey Lapan
Microeconomic Analysis I
Fall 2011
Problem Set No. 9 Due by: Thursday, November 3, 2011
1. Finish Problems 5-7 from problem set 8.
2
2
2
2. Let q = f ( z1, z2 ) = z1 + z2
; > 0
(a) Is this function concave?; quasiconcave?
(b) I
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2011
Problem Set No. 10 Due by: Thursday, November 10
1. Do Questions 6 & 7, Problem Set 9
2. Let c( w, q) denote the cost function of a competitive firm, where q is output and w is the vector of in
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2012
Problem Set No. 1
1.1. Graph the sets A, B, C
Due by: Friday, August 25
D , C
D below and decide whether or not they are convex.
x, y : x 0, y 0,
B x, y : x 0, y 0,
x 2 y Max x 4 ,0 w ;
C x, y
Economics 601, Microeconomic Analysis I
Fall 2012
Harvey Lapan
Midterm 2
1. Answer all parts.
(a) Consider a consumer whose utility depends on three goods, x1 , x2 , x3 . Her Hicksian demand
for goods 1and 2 are given by:
1
1
p1 3 p1 6 h 2U 1 2 p1 2 p3 6
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2011
Problem Set No. 6 cfw_2 weeks worth of questions!
Due by: Friday, October 12, 2011
Do questions 7 and 8 from Problem Set 5.
1. Consider a two good world, where preferences are strictly quasi-co
Economics 601 Harvey Lapan
Microeconomic Analysis I
Problem Set No. 11 Due by: Thursday, December 6, 2012
cfw_you do not have to answer all questions; these are for practice and information
Fall 2012
Finish questions from previous problem sets.
1.
[Monopo
Economics 601 Harvey Lapan
Microeconomic Analysis I
Fall 2012
Problem Set No. 8 Due by: Thursday, October 25
Do Problems 6-8 from Problem Set 7, and parts of any other problem not finished.
2
2
2
1. Let q f z1, z2 z1 z2
; 0
(a) Is this function concave?;
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2012
Problem Set No. 9 Due by: Thursday, November 1
1. Do Question 6, Problem Set 8.
2. (Generalization of Problem 6, Problem Set 8): There are J firms; each firm produces the same good
(q) using th
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2012
Problem Set No. 10 Due by: Thursday, November 15
Finish problems from previous problem set
1. (Deadweight Loss and Second Best) Consider a simple general equilibrium model with three goods.
Goo
Economics 601 Harvey Lapan
Microeconomic Analysis I
Fall 2012
Problem Set No. 3
Due by: September 10 (hand in at beginning discussion section)
1
1
3.1 Consider the greatest integer function f x : R R , which is denoted x . This function assigns
the larges
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2012
Problem Set No. 5
Due by: Wednesday, September 26, 2012
1. Do Problems #4.5 (Slutzky compensation) from Problem Set 4.
2. Stone-Geary utility function
Assume that, for the 2-good case, the util
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2012
Problem Set No. 7
Due by: Friday, October 19
Do Problem #7 from Problem Set #6
L
1. Consider the production set Y R3 such that: y3 ( y1 y2 )
14
+ ( y1 y2 )
34
;
y1 0, y2 0 . Let
x1 = y1 , x2 =
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2011
Problem Set No. 6
Due by: Thursday, October 13, 2011
1. Utility function and revealed preferences (MWG, 3.D.7)
In a two-good world, a consumer makes choices in two periods with budget sets of,
Economics 601 Harvey Lapan
Microeconomic Analysis I
Fall 2011
Problem Set No. 8 Due by: Thursday, October 27
1. A firm uses three inputs to produce one output: q = f ( x1 , x2 , x3 ) . Assume the production function
is strictly concave and that a unique s
Economics 601 Harvey Lapan
Microeconomic Analysis I
Fall 2010
Problem Set No. 9 Due by: Thursday, November 4, 2010
1. Do problem #8 from Problem Set No. 8.
2. Problem 10.C.3 in MWG textbook (p. 344).
3. (Generalization of Problem 2 above): There are J fir
Economics 601
Microeconomic Analysis I
Harvey Lapan
Fall 2010
Problem Set No. 5
Due by: Thursday, September 23, 2010
5.1 Duality Recovering preferences. Given the following expenditure functions, find the corresponding
indirect utility function
i. e ( p,
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. 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
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. 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. 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 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 Harvey Lapan
Microeconomic Analysis I
Fall 2010
Problem Set No. 8 Due by: Thursday, October 28
1. Suppose inputs ( z1,., zn ) are used to produce good q according to the following production function:
q f ( z1,., zn ) . Let factor prices (W1