Economics 601 -Microeconomics: Theory and Applications
Please answer all questions below. Answers are due as a single document (pdf preferred) on Canvas. Feel free to scan / take photos of hand-drawn answers for math, figures, or diagrams, just make sure to embed them in your answers. Email me if you have any clarifying or similar questions, and good luck!
6. Applying theory (40+ points) Choose one of the two options below:
- (40 points) Answer any one question that we have yet to solve in class or lab, other than the two short discussion questions 21 and 28, i.e., any one of problems 8, 12, 14, 16, 18, 19, 22-27 and 29-37. Note that questions 32-37 draw on chapters we have not covered, though you are welcome to try your hand at them. You should answer every part of the problem to the best of your ability, and explain your rationale as much as possible.
- (40 points + extra credit) As above, but you may instead choose to work with up to N other classmates in a group on a total of N+1 new problems together. For example, if you work with two other students to form a group of three, you must answer three new questions in total. You must declare that you are working in a group and identify the other members, and each submit your own individual write up of your group’s solutions to the assignments, with your own personal explanation of what you did, and why, as you solve the problem. Each additional question gets graded as normal, with points shared equally as a public good among the group (i.e., 1/(1+N)) as extra credit.