The problem sets come from the required textbook for the course:
Varian, Hal R. Microeconomic Analysis. 3rd ed. New York: W.W. Norton & Company, 1992.
The textbook contains answers to odd-numbered problems in each chapter. Prof. Izmalkov has developed answers to the even-numbered textbook problems (see below) used in the course.
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Problem Set 1
- Chapter 1: 1.2, 1.4, 1.6, 1.8 and 1.10
- Chapter 2: 2.2, 2.4 and 2.6
- Chapter 3: 3.2 and 3.4
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Problem Set 2
- Chapter 4: 4.4, 4.6 and 4.8
- Chapter 5: 5.4 , 5.6 , 5.8, 5.12 and 5.16
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Problem Set 3
- Chapter 7: 7.2, 7.4 and7.6
- Chapter 8: 8.2, 8.4, and 8.6
- The purpose of the next exercise is to illustrate that the theory is not limited to choices over goods, and to show you a very nice result.
Consider a species (an animal, an insect, a fish, e.g.). The time is discrete, so that each period a new generation lives. The objective of each organism is to maximize its descendants. The family structure in a society (if it can be called like that) is not known, it may be monogamy, polygamy, anything that one can imagine, but it does take exactly one male and one female organism to produce offspring. Prove that Fisher’s law holds: the ratio of male and female organisms in the population has to be equal 50/50.
Hint: Think about a choice of the mother to have a son or a daughter. Which one she would prefer having in mind the objective above. Think about grandchildren.
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Problem Set 4
- Chapter 8: 8.10, 8.12, 8.14 and 8.16
- Chapter 9: 9.2 and 9.4
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Problem Set 5
- Chapter 9: 9.8 and 9.10
- Chapter 10: 10.2
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Problem Set 6
- Chpater 7: 7.2, 7.4, 7.6, 7.8 and 7.10
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Problem Set 7
- Chapter 15: 15.4 and 15.6
- Chapter 16: 16.4, 16.10 and 16.12
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