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Problem Set 1 Econ 300 Fall 2013 Due Date: September 19th Please return your answers in legible handwriting. Do don’t forget to write your NAME and University ID. Please show your work, you will be awarded partial credit for coherent attempts, but no credit will be granted for unjustified correct answers. 1. The function f is defined on (4,10). What is the value of ( 5)f ? Is this a well-defined function? 2. Consider the following function 2()f x x, is it convex, concave or both? 3. Draw indifference curves of the following function 32( , )u x y x y 4. Consider the following function and provide an argument about its concavity or convexity and monotonicity: 001 0 1()2 1 23 2


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UMD ECON 300 - Problem Set 1

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