Econ3101 - Section 006 Intermediate Microeconomics
Xavier Vinyals-Mirabent Due: Wednesday, February 1st, 2012.
Solutions to Homework 1.
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1. A consumer has preferences for two goods. Her preferences satisfy Axioms 1 through 4 as discussed in class. A v D v
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0 0 5 (a) Plot and label the following bundles: A (2,10) B (6,2) C (0,4) D (8,10) E (4,6) (b) Assume A is indifferent to B (A ∼ B). On a single line, list all the bundles in descending order of preference using ( ) to denote strict preference and (∼) to denote indifference between adjacent pairs. In other words, use the form: A B C D E Answer: D E A∼B C, or D E B∼A C. 10
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2. Consider an economic agent who has preferences that are represented
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Figure 1: Jeremy Bentham 100
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Figure 2: John Stuart Mill 100 r r r 75
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6. I’ve been told I have odd tastes. I thought about this and realized that: • If I have more Y than X, then I always trade 5 Y for one X. • If I have more X than Y, then every time I give up one Y, I require 5 X to remain indifferent after the exchange.
(a) Plot and label the following bundles and then graph my indifference curves through each of these points. A = (10,50) B = (50,50) C = (65,5) (b) Please tell me the value of my: Marginal Rate of Substitution at point A =5 Marginal Rate of Substitution at point C =1/5
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7. Britney S. has a divided mind. Her preferences change drastically according to how much X and
2, 2, 0, 5,1, 4,1, 3, 0, 0, 1, 4, 4, 0,1, 4, 3, 4, 2, 1
World War One started in 1914 and ended in 1918. There were a variety of underlying causes of World War One. Starting with the assassination of Archduke was a cause of the war. Also the alliance system caused many problems in the long run of the war. Another cause that was big was that the people started to believe that war was everything in life (DBQ Project Essay Background). Another big cause of the war was, countries building up their armies and navies, so they could be ready to attack at any given moment (DBQ Project Doc 7).
40 days in a SNF. Medicare Part A will cover 100% of the first 60 days of Mrs. Zwick’s hospital
World War I, or “The Great War”, began in 1914 and ended in 1918. The devastation witnessed in those four years alone, caused nearly 9 million people to die and millions more crippled, grief stricken, maimed, or psychologically scarred. Considered by some to be the first man-made catastrophe of the twentieth century, many scholars still debate over the main underlying causes of World War I. Many things contributed to the war, changing the lives of many people, many of them still evident today. Beginning only as a European conflict, gradually it developed into a world war.
|1 |$ 60 |$ 45 |$ 105 |$ 60 |$ 45 |$ 105 |$ 45 |
This experiment has a goal of testing a household cleaning theory that dark sodas such as Coca Cola or Pepsi can be used as a cleaning agent and cut through dirt and grease effectively as a cleaner. For the experiment, the researcher/writer has purchased Pepsi products, Pepsi specifically to use as the cleaning product to test. The researcher/writer will clean six different types of messes (Food stains of ketchup and mustard on a shirt, kitchen counter grime/grease, bathroom counter soap scum, car windshield and battery corrosion on a car battery and bathroom counter/sink). Each item will be cleaned with Pepsi and soap and water, with the soap
E 6. B 7. E 8. B 9. A 10.
1. When a social scientists say that the concept of race is a "social construct", they mean that the mainstream belief among scientists is that race is a social construct without biological meaning.
In the late 18th century when the Industrial Revolution started to spread from England to other countries such as France, Spain and Germany and even in the U.S, the changes that its dynamic brought to the society were drastic and radically different of what people were used to until then. The work hours become longer; young children and their parents were working most of the time; new factories opened up and old villages now were the main workforce source to keep the production level up to the demand and supply requests. Villages started turning into urban centers, crowded by large number of people; poor people that
7. He found it appealing because he finally found a home. He felt the sense of brotherhood with guys that he just met.
In today’s digital age, development of new technology and weapons are at an alarming rate, hence arises the need to stay ahead of advancements in order to properly defend the nation, as well as coalition forces and allies. In this period of warfare, the number one threat comes in the form of air breathing and ballistic missiles. During World War II, this threat was present, but was not thought to be prevalent.
In the eyes of the world, Britney presents herself with a divided personality. In private she appears shy and insecure, while in public she seems surprisingly fearless. When not performing, Britney worries about how she looks when she goes to the store or shopping. She spends hours on her appearance in order to satisfy others rather than herself (Perrotta 238). She is referred to as the “savviest” entertainer of her generation, portraying both lust and innocence. While on stage, she grinds, moans, and even removes clothing. But offstage she swears she’s a virgin. The two images do not coincide (Klosterman 63).
DC-8 21 91 42 22 19 20 31 32 41 102 85 33 13 4
Using the table on page 237, name 3 personality characteristics you possess and explain why?