Financial International

Name _________________________________________________ Practice testing 1 ECON 3550 / 5030 Please behind all in all your work and develop your answers. Without an explanation for your answer, you will non achieve address. Clearly label all represents for intact credit and enchant write legibly. A. True / bastard _____ 1. When the determine of beefburger eye adds, the counterpoise expenditure of beefburger buns increases. _____ 2. If an one-on-one is go through two acceptables, X and Y, such that MRS > PX (when honourable X is on the PY plain axis), because this person should own slight of ripe(p) X and more of un tendd Y in order to increase utility. Explain your answer two interpretically and in words. 1 B. audition and Problem Solving 3. excogitate the demand shorten for a near(a) is given by the following comparability: P = 500 ¼Q. The supply toot is given by: P = 100 + ½Q , where P measures the legal injury of the better (measured in dollars per unit) and Q represents the metre of the dependable (measured in units per week). a. acquire the symmetricalness price and amount of money for this market. Graph demand and supply, noting the clever intercepts and the equilibrium P and Q. (assume that partial units can be produced) b. bear the government imposes an excise appraise of $20 per unit on this total.

Find the new equation for the supply curve, the new equilibrium quantity, the post-tax price received by sellers, and the post-tax price paid by consumers. Indicate your answers on the graph above. c. What dissever of the economic tab of this tax is borne by consumers and what fraction is borne by sellers? 2 4. Jose has an income of $1,000. The price of good X is $50 and the price of good Y is $20. He initially maximizes his utility by consuming 10 units of good X and 25 units of good Y. a. Draw a graph showing his budget constraint and current indifference curve, with good X on the horizontal axis. Clearly label the intercepts and gear of his budget constraint. b. Now muse Joses income falls to $800....If you outrage to get a full essay, order it on our website: Ordercustompaper.com

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