2022 Sum Mock My Working

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ECON20002: Intermediate Microeconomics

Mock Final Exam Answer Template


February 17th 2022, 15:00 (3pm) to 18:30 (6:30pm; firm deadline)*
*unless otherwise advised by the exam office

Zhao Xu
Write your name here: _____________________________

1152058
Write your student ID here: ______________________________

762
Write the Exam ID here: _____________________________

Instructions:
• Please submit a PDF (or “print” the DOCX as a PDF).
• Do not upload the exam questions, upload only your answers.
• Keep questions in order, and label them. On each page please fill in the header and the
footer with the question number and sub-question letter(s) worked on.
• Students should start submitting their exam no later than 15-minutes before the end of
the exam period. Students may follow the link below for submitting or access it on
Canvas:
o https://canvas.lms.unimelb.edu.au/courses/126679/assignments/284976
• Pay attention to the exam deadline. For example, those who start the exam at 3pm must
submit their exam by 6.30pm, unless they have special consideration approved by the
university. Late exams will not be accepted and will not be marked.
• You may confirm your submission by looking for “✓ Submitted!” at the upper right of
the “Assignments” tab in Canvas. For further ways to confirm your submission see:
https://community.canvaslms.com/t5/Student-Guide/How-do-I-know-when-my-assignment-
has-been-submitted/ta-p/277
• Do not email this PDF/DOCX under any circumstances. Should you have trouble
submitting on Canvas before the deadline and you can document your problem with
screen shots, you may submit at the following link before the submission deadline (the
following link will be available from just before the deadline time; any submissions after
the deadline will not be accepted):
https://melbourneuni.au1.qualtrics.com/jfe/form/SV_6swAhxlWN0W7poG
• Hand-written and scanned submissions (or a combination) that follow this format will
also be accepted but do follow the format below and be clear. Your target should be
around 5MB. Practice this please. Submissions much larger than this are risky because
bandwidth issues could be present for some of you, and for Canvas. If you submit late
your only recourse is to apply for special consideration. We have no control of special
consideration, as this is overseen by the FBE faculty.
On each page: please mark question number and sub-question letter at the top and bottom

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12
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4 PE4

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4X 119
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x.it ⻮⼀⼀年 N
Iillustrateinredpenabove
2
d utility before pricechange

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5
X f 30.5

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in ii

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whichis from Q 0 onwards

demand supply
2Qt10 100 主Q

2.5Q 90
达 36
0
P 36x2 10 82 I

Atthis point ABC is consumer surplus ACD is producer


surplus no dead weight loss

Price is same as perfect competitive market


I

6
四 Total welfare deadeightloss
2 30 10 70
___ ⼼ 成 ⼆⼼ ˊ
Consumer surplus in a
Consumer Surplus difference
之⼈30 100 85 225
___ 99
Consumer surplus in lb
当 x 36 x 100 82 324
Producer
surplus in a
Producer Surplus difference
这 170 10 ㄨ 30 8570 30 1350
Producer
surplus in lb
主x182 10 36 1296

7
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05BIL
业 以B i prob 5
Net payoff
W 0.5B i Prob 1 0.5

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T
⼆ 主 100 t This

业 0
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u 100 o 5B L u 100 0.5B


100 0.5B L 100 0.5B

i B L

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expectedutility ⼆ 主 ⼭ 0010.5B L 主u1100 0.5⽇

器 专专 以00 o 5⽇ a 主当以 100 05⽇ o

u 100 o 5B L u 100 0.5分

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1 N B⼥ L
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Optimal B hasincreased
of

8
还 EU no insurance 0.5u 100 0.5x u 100 4
0.5to 0.5TE 8.81 I
EU withinsurance⼆ 0.5 u 100 M 0 5x u 100 1 NB M L

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i Prefer to have insurance independent of landa

9
TRfirm 100 2 Q 0叫 Q 100Q.IQ
lga
2QQ MRlfirmI
4QlOO 2Q2

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si 100 2 QtQ2 Q2 100Q 2QI

MRfirm2 100 2Q 4Qz MC

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9

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Qi 㕺 Qi

Qi ⼆
号 f 号 V
p 100 2 f f

10
⼆ QT⼆点 Qi

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100Q 20.2 2点Qi Qi

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点Q
100 2
Q

Bysymmetry
Qj
100 2
章刊Qi for all i and j V
100 22年 Q
Q 25

ntJ Q.li
4
主n 25

0迷 器 P 100 2n 器 100 1 卡 r

11
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⼼ 䀴 fktokn
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赢 4

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25 12.5 12.5 50

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毕 兴兴
Lushare decreased

12
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Lu 0lstoktzolukir tzfEE.to Ekoo

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f
K
主告
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Ls

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