[ECON 100A] - Final Exam Guide - Everything you need to know! (58 pages long)

582 views58 pages
Published on 29 Nov 2016
School
UCSD
Department
Economics
Course
ECON 100A
UCSD
ECON 100A
FINAL EXAM
STUDY GUIDE
Unlock document

This preview shows pages 1-3 of the document.
Unlock all 58 pages and 3 million more documents.

Already have an account? Log in
Unlock document

This preview shows pages 1-3 of the document.
Unlock all 58 pages and 3 million more documents.

Already have an account? Log in
ECON 100A
Erik
elilleth@ucsd.edu
Office: ECON 122
PSET Lab
- Sun 2 – 7
- M Tu Th 5:30 – 9
- W 7 – 9
- ECON 200 for 100A
Problem Set One
Elasticity
1.
a. q = 10 – 2p
E q, p = -2 * p / (10 – 2p)
b. q = p-.5
E q, p = -.5 * p -1.5 * p / p -.5 = -.5
c. q = 1 / ln (p) for p>1
E q, p = -1 / ln (p)2 / p * p / (1 / ln (p)) = -1 / ln (p)
2. E q, p = -2 = % Δ in q / % Δ in p  % Δ in q = -40%
3.
4. q = 150 - .5 p
E q, p = -.5 * p / (150 - .5p)  -1 = -.5 * p / (150 - .5p)  -.5p = -150 + .5p 
p = 150
5. TR = p * q(p)
% Δp = (95 – 100) / 100 = -5%
E q, p = -1.4 ≈ % Δ q / % Δ p  % Δ q = 7%
% Δ TR ≈ % Δ p + % Δ q
≈ -5% + 7%
≈ 2%
6.
7. TR = p * q(p)
d TR/ dp = q(p) + p* q’(p)
= q(p) + q(p) * p / q(p) * q’(p)
= q(p) + q(p) * E q, p
= q(p) * (1+ E q, p)
8.
9.
a. Need f(x) > 0 f’(x) > 0 d E f(x), x / dx < 0
Level curve: set of (x,y) s.t. f(x,y) = c = 1
10. f(x,y) = x+y2
find more resources at oneclass.com
find more resources at oneclass.com
Unlock document

This preview shows pages 1-3 of the document.
Unlock all 58 pages and 3 million more documents.

Already have an account? Log in
Solve explicitly for f(x,y)=25
 x+y2 = 25
 y = √(25-x)
dy/dx = - ½ (25-x) – ½ @ (x,y) = (16,3)
dy/dx = - ½ (25 – 16) – ½
= - ½ * 1/ √9
= - 1/6
11. dy/dx|f(x,y) = 25 = - (δf(x,y)/δx) / (δf(x,y)/δy)
= - 1 / 2y
= - 1/6
12. f(x,y) = (x2 + y2)*exy
dy/dx = - (δf(x,y)/δx) / (δf(x,y)/δy)
= - (2x*exy + (x2+y2)*y*exy) / (2y*exy + (x2+y2)*x*exy)
= - (2x + (x2+y2)*y) / (2y + (x2+y2)*x)
13.
f(x,y) = x*y
dy/dx = -y/x
Find ways to increase the denominator
e.g. g(x,y) = (x+1)*y  dy/dx = - y / (x+1)
find more resources at oneclass.com
find more resources at oneclass.com
Unlock document

This preview shows pages 1-3 of the document.
Unlock all 58 pages and 3 million more documents.

Already have an account? Log in

Document Summary

E q, p = -2 * p / (10 2p: q = p-. 5. E q, p = -. 5 * p -1. 5 * p / p -. 5 = -. 5: q = 1 / ln (p) for p>1. 3: q = 150 - . 5 p. E q, p = -. 5 * p / (150 - . 5p) -1 = -. 5 * p / (150 - . 5p) -. 5p = -150 + . 5p p = 150: tr = p * q(p) % p = (95 100) / 100 = -5% E q, p = -1. 4 % q / % p % q = 7% % tr % p + % q. 6: tr = p * q(p) d tr/ dp = q(p) + p* q"(p) = q(p) + q(p) * p / q(p) * q"(p) = q(p) + q(p) * e q, p. 9: need f(x) > 0 f"(x) > 0 d e f(x), x / dx < 0.

Get OneClass Grade+

Unlimited access to all notes and study guides.

YearlyMost Popular
75% OFF
$9.98/m
Monthly
$39.98/m
Single doc
$39.98

or

You will be charged $119.76 upfront and auto renewed at the end of each cycle. You may cancel anytime under Payment Settings. For more information, see our Terms and Privacy.
Payments are encrypted using 256-bit SSL. Powered by Stripe.