1.The demand function for the Luminar desk lamp is given by p=f(x)=0.1x20.5x+22p=f(x)=0.1x20.5x+22 where x is the quantity demanded in thousands and p is the unit price in dollars.

(a) Find f'(x).

(b) What is the rate of change of the unit price (in dollars per 1,000 lamps) when the quantity demanded is 7,000 units (x = 7)? What is the unit price (in dollars) at that level of demand?

2. Why do we assume quadratic utility function in classical portfolio theory?

3. Macroeconomics is an aggregate of what happens at the Microeconomics level. Would it be possible for what happens at the macro level to differ from how economic agents would react to some stimulus at the micro level?

4. What is a calibration curve?

5. A newspaper article documents the closing of a local factory and the many jobs that are lost. A separate article describes the rising U.S. unemployment rate. Why is the first article a microeconomic issue and the second article a macroeconomics issue?

6.Name some factors that can cause a shift in the supply curve in markets for goods and services

7. What is being held constant when a demand curve for a specific product (shoes or apples, for example) is constructed?

8. Which microeconomic models have been used to describe the behavior of producers and traders in agricultural value chains?

9. Can dissipate structure concept usefully take place of equilibrium framework in economic analysis?

10.True or false? An increase in demand is represented by a movement up the demand curve.