Individual homework (Михно Т.)

Variant 11

1.Build budget line of consumer if equation of budget line is 300 = 5Qх + 10Qу, where, 300 dollars – is consumer income, Qх – is quantity of good X, 5 dollars – is a price of good X; Qу – is quantity of good Y, 10 dollars – price of good Y. How will budget line change if income rise up to 400 dollars, price of good X isn’t change and price of Y rise up to 20 dollars.

2.Free competitive firm produces 10 th. phones in a year. Average variable costs are 120 doll., total fixed costs are 700 th. doll. Find the profit of the firm if market price of one phone is 245 doll.

The Instructor argues that theory can be used to transmit values and beliefs. Objectives most often held for theory (not just economic theory) are

a. Explain

b. Predict

c. Both the above

Indifference curves are ignored or irrelevant beyond where their slopes are 0 or infinity because

a. The price of the goods has increased to exceed the buyer’s budget

b. At that point the good has 0 marginal utility and MU becomes negative as more units are added

c. At that point the good has 0 total utility

d. All the above

Individual homework (Леонтьева И.)

Variant 12

1.Budget of consumer is 54 dollars, MU_X = 60 – 2Q_X; MU_Y = 48 – Q_Y; P_X = 2 dol.; Р_Y = 4 dol. Find quantity of goods X and Y in the point of consumer equilibrium.

2.Imagine that monopolist can sell 150 units on price 50 doll. per unit, but if he decide to sell 151 units the price will decrease till 45 doll. Find marginal revenue of monopolist in the case of output increase from 150 till 151 units.

Theory can be thought of as

a. A ready made explanation that is universally applicable

b. A technical process that predicts events with great accuracy

c. A set of rules or a map that guides our analysis in organizing data to help us ask and answer questions

d. A waste of time and unnecessary

The consumer will maximize their utility when

a. The sum of the prices is equal to the slope of the budget constraint

b. The MRS = -1

c. Weighted marginal utility are equal

d. none of the above

Individual homework (Киеу Вет Чинь)

Variant 13

1.Preferences of consumer are:

Quantity of goods 1 2 3 4 5

Total utility 100 120 135 145 153

Find: marginal and average utility of the 2, 3, 4, 5 unit and explain the tendency of their change.

2.Monopolist can sell 20 units on price 100 doll. per unit, but selling of 21 units will decrease the price till 99,5 doll. per unit. Find marginal revenue of monopolist in the case of output increase from 20 till 21 units.

3. One of the key concepts that are used in economic analysis is “opportunity cost.” Opportunity cost exists because

a. Every thing has a market price measured in monetary units

b. The balance sheet must balance

c. The existence of relative scarcity requires choice

d. All the above

4. The model of an individual demand function may be stated as QX = f(PX, PY, I, preferences, #buyers, …)

a. True

b. False

Individual homework (Николаенко К.)

Variant 14

1.Labour is the only variable input, all other inputs are fixed.

Quantity of labour, person. 0 1 2 3 4 5 6

Output, units 0 40 90 126 150 165 180

With which laborer employment will marginal product start decreasing? Estimate marginal product of the 6^th laborer? Which quantity of labour should we employ for average product maximization?

2.Free competitive firm plans to publish text-book on Economics. Average costs per one book are 2 doll.+2000doll./Q, where Q – quantity of text-books published during a year. Approximate price of the book is 4 doll. Firm plans to receive normal profit. Find annual output of text-books in such conditions.

Date: 2015-12-17; view: 877