Quiz: ECON6001/6701 In-semester test
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Quiz Instructions 经济学quiz代考
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Answer all questions in the exam. Answers with no explanation receive zero credit.
You will have to time yourself. Please allow enough time to scan and upload the answers.
This is an open book exam. However, your submissions will be checked for plagiarizing and academic misconduct of any kind (copying answers from other students or enlisting their help) will result in a report to the University. It is the student’s responsibility to ensure that any actions you do during the exam do not constitute academic misconduct. Please be mindful we may access logs of your Canvas activity in the event of any discrepancy or concerns regarding breaches of integrity.
The content of this exam is not to be shared or distributed in any form.
Question 1 3 pts 经济学quiz代考
- Which of the following statements are correct? (There might be several correct statements or none.)
- If preference is representable by a discontinuous utility, then this preference might be continuous.
- A consumer with convex preference who is indifferent between bundles (1,4) and (9,2) will have preference .
- If preference is transitive, more is always preferred to less.
Question 2 4 pts
Consumer’s indifference curve is . When she buys bundle (4,9), her MRS is
Question 3 4 pts
Question 4 4 pts
Suppose the consumer chooses bundle (1,5) with prices (3,3), (3,3) with prices (6,4) and (2,4) with prices (4,3). Which of the following statements are correct?
(There might be several correct statements or none.)
- Consumer does not violates GARP.
- The revealed preference can be represented by a utility function.
- Consumer violates WARP.
Question 5 4 pts 经济学quiz代考
Suppose S=｛s1,s2｝and a consumer evaluates AA acts as follows:V(f)=f(s1)(0)＋f(s2)(30). Consider the following act g:
Then the value of act g is
Question 6 6 pts
Question 7 4 pts 经济学quiz代考
- Both consumers are identically risk-averse
- Consumer 2
- Consumers’ risk aversion is not comparable
- Consumer 1
- Not enough information to answer the question
Question 8 6 pts
Question 9 4 pts 经济学quiz代考
Question 10 4 pts
Question 11 22 pts
(a) (12 points) Derive Hicksian demand for both goods.
(b) (10 points) Derive the indirect utility.
Please, upload your solution in a single pdf file.
Question 12 35 pts 经济学quiz代考
Suppose there are two states of the world S=｛s1,s2｝ and the set of prizes. A consumer evaluates AA acts as follows:
(a) (15 points) Does this preference satisfy monotonicity? If yes, prove it; if no, provide a counter-example.
(b) (15 points) Does this preference satisfy the independence axiom? If yes, prove it; if no, provide a counter-example.
(c) (5 points) Does this preference have an SEU representation? If yes, give an example; if no, explain why not.
Please, upload your solution as a single pdf file.