ECO200Y1 Midterm: ECO200Y1 Term Test 2 2017 Winter Solutions
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ECO200Y1 Full Course Notes
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Duration of test: 90 minutes + 10 minute cold weather bonus = 100 minutes! Don"t count on your winter weather being cold! In other words, it is likely that your test will be the usual 90 minutes. There are 6 questions of unequal value: variety pack, adam"s work-leisure choices, andrea"s two-period choices, harry insures his house, mitch"s production technology, multiple choice. Show your work for full marks (excluding mc questions). 1. 1 (5) wally the worker can freely chose his hours of leisure (l) and work in a 24 hour day at a fixed wage rate of per hour in order to earn some income (i). Super eco 200 student has calculated that wally"s optimal choice provides. Wally finds another job that pays him per hour. Super has determined that he would work 8 hours in his new job.
