Econ 301
Study Guide
Exam #2
Deiter, F09
Date: F Oct 23, 9:00 a.m.
Location: 2115 Pearson
Material/topics:
Lectures: W
Sept 23 thru M Oct 19
Units: 3
(after U max perf
substitutes) – 5 (thru prod fns)
In classes
(#5-#9) & quizzes: (#5-#8)
Format:
16 questions
(6 pts each)
2 optional
bonus questions (1 pt each)
Hints:
1.
solve for U maximizing Q’s of two normal goods
2.
derive firm’s TR equation from D curve equation
3.
derive consumer D equation from U max variables
4.
calculate firm’s TR-maximizing P or Q
5.
show U max for normal goods in a graph
6.
given a choice between X & Y, explain what will Cy do
7.
solve inter temporal choice problems
8.
identify inter temporal budget line pts for borrower, saver
9.
show inter temporal budget line impact of change in r
10.
given D equation, calculate & explain & apply elasticities
11.
predict % change in P given Eo and % change in Q
12.
derive MP of L equation from TP equation
13.
solve for profit maximizing L given production & P info