Trustees:
Do this for T 1/23.
This announcement was also emailed.
The precalc book section's internet address, without the formatting problem of the PDF-saved email, is http://www.mhhe.com/math/precalc/barnettpc5/graphics/barnett05pcfg/ch01/others/bpc5_ch01-02.pdf.
A corrected version of the original version Bookmarked elsewhere on this page. (Permission has been requested of the author.)
Copies to be distributed in class.
We started 1 in class on W 3/28; work through the rest of 1 for brief review on F 3/30. Work through 2 for M 4/2.
Unlike other exercises, this was not handed out in print. Work through it for M 4/2.
These data are from a past in-class experiment that we don't have time to replicate this semester.
We'll start the production-based parts (isoquants and MRTS) on F 3/30; work the rest of them for brief review on M 4/2. We'll start the cost-based parts on M 4/2.
Finish this for T 4/9.
Like the exercise to follow, since this example has a simple (linear) MC function, algebraic (as well as graphical and numerical) solution is possible.
After we work through the similar example in class, work through this in preparation for brief review on M, 4/16.
This is updated shortly after presentation in class to match the sign (+, not -) of the MRS, etc. to match Frank.
These student departmental assistants with experience in the courses listed are available for drop-in tutoring, on the schedule shown in the separate spreadsheet.
This shows a problem not reviewed with the others. The key is recognizing that buying a ticket for four days (or five through nine days, as well as ten days) is cheaper than paying for each individually.
See Example 5 and Matched Problem 5, on pp. 22-23.
There are many other online guides to graphing linear functions and solving for their intersection. This is the most appropriate one I could find for this context, but has a number of small typos and errors. Among them is that the intercept (P=5) of the supply function should be at the first tick mark on the vertical axis, not below it.
I have requested permission from the author (at http://www.profdatqcecon.org/Econ101class.htm) to use a version in which I have made corrections, and will post that as soon as possible if given permission.
Update: given no response from the author, I've posted a corrected version under Activities.
Among the many sources of printable graph paper templates is https://www.printablepaper.net/category/graph; usually 4 or 5 lines per inch with heavy index lines is best.
Optional, using calculus for marginal analysis.
In the Cobb-Douglas utility function presented in class, the exponents on the quantities of goods (b and 1-b) are assumed to be between 0 and 1 and sum to 1. b represents the relative taste (as a share of 1) of the consumer for the first good, and so appears in each demand function.
These lecture notes are very similar, but use a slightly more general form of the function in which the exponents (a and b) are between 0 and 1 but may not sum to 1. Here a/(a+b) represents the relative taste of the consumer for the first good.
Not assigned (yet, as of 1/16/18), just saving a link to the article I opened in class as a demo of relevant coverage in The Economist.
Estimates from Spanish data, related to Exam 2 question c., as well as previous lecture about this topic. The methods are more complex than those described, but build on the same basic concepts and methods.
For specific assignments, please see the Coursework page.
A version of the short paper assessment rubric with numeric codes for levels of attainment of the objectives. Use it to read any codes in feedback on a short paper.
Follow these guidelines in directing your participation in class sessions.
This is a test.