Microeconomics Problems

Econ 315 Home dress III Posted: Friday, October 7, 2011 Due: Friday, October 14, 2011 (before level or at a time after) Instructions: either planning serves MUST BE TYPED. No email submissions. The forwardness will be collected in class. If you cant be in class, send your homework with a lifter or turn it in proto(prenominal) under my get throughice entry (Raub 410) with your name and email anticipate clearly marked. No recently homework will be accepted without a reasonable documented excuse. Group work: You can work one at a time or in a group of two (2). scarcely one submission is inevitable for each group, but view that both names and email addresses be included. billet that homeworks are crucial to your learning, so if you take away to work in a group, be an active participant. Do not study an action (join a group) if it makes you worse off (reduces your effort and last lowers your grade). That would not be rational! advert: The lecture n otes and piece 4.1, 3.1, and 3.2 of the text should allow you to complete this homework satisfactorily. QUESTION 1 (1,000 points) State the change in the value of books, the change in the price of pens and the change in income that WOULD draw to the following movements in the cipher line. none: BLI denotes the initial work out line. BLN denotes the new budget line.

a) (300 points) [pic] i) The price of books has not Changed ii) The price of pens has change magnitude iii) The consumers income has not Changed (b) (300 marks) [pic] i) The price of books has Increased ii) T! he price of pens has Decreased iii) The consumers income has Not changed (c) Note: For part (c), be as precise in your answer as possible. However, you do not need to pronounce a numerical amount for any change. (400 points) [pic] i) The price of books has Increased ii) The price of pens has Not Changed iii) The consumers income has Doubled QUESTION 2 (500 marks)...If you want to get a full essay, order it on our website: BestEssayCheap.com

If you want to get a full essay, visit our page: cheap essay