100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Solution Manual For Microeconomics 6th Edition by David Besanko, Ronald Braeutigam $15.99
Add to cart

Exam (elaborations)

Solution Manual For Microeconomics 6th Edition by David Besanko, Ronald Braeutigam

 14 views  0 purchase
  • Course
  • SM+TB
  • Institution
  • SM+TB

Solution Manual For Microeconomics 6th Edition by David Besanko, Ronald Braeutigam → Immediately available after payment →Both online and in PDF →100% Money Back Guarantee

Preview 10 out of 878  pages

  • November 20, 2024
  • 878
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:
  • SM+TB
  • SM+TB
avatar-seller
timonlopez29
%012345680931 3 96164621 64 6 642343




&
&
&
&
&
&
'
'
'
'
()*+,-.'/&
01*234516'78919:58';.9<2-:=&
'
'
&




>?@ABC?DEFB?FGHICHJFKAHEBC?DE&
F
LMN O)*,'5=',)-'P5QQ-.-18-'<-,R--1':58.9-8919:58='*1P'
:*8.9-8919:58=S&
%69 


64! 18642"4# 319
$


,%012345680931 3 96164621 64 6 642343
&
'()*+,)+-+.()/0/123(,/014,0,)+-+.()05,467(+*0+80(-3(7(32690,)+-+.()03,)(/(+-0
.6:,*/;0/2)406/060)+-/2.,*;060<+*:,*;0608(*.;0+*060.6-6=,*>00
'6)*+,)+-+.()/0/123(,/04+<06-0,-1(*,0-61(+-690,)+-+.?0@,*8+*./;0,A6.(-(-=0
/2)401+@()/06/014,06==*,=61,09,7,9/0+80(-)+.,06-30,.@9+?.,-1;014,09,7,9/0+80
(-1,*,/10*61,/06-30@*(),/;014,0*61,0+80(-8961(+-;06-3014,0-612*,0+8052/(-,//0
)?)9,/>0
0
BCD EFG&HI&JKLMLNHKI&LOPJM&QJIKRHSJQ&TI&PFJ&IKHJMKJ&LO&KLMIPRTHMJQ&
KFLHKJU0
&
V4(9,0+2*0<6-1/08+*0=++3/06-30/,*7(),/06*,02-9(.(1,3;014,0*,/+2*),/0-,),//6*?0
1+0@*+32),014+/,0=++3/06-30/,*7(),/;0/2)406/0965+*;0.6-6=,*(690169,-1;0)6@(169;0
6-30*6<0.61,*(69/;06*,0WXYZ[Y\]05,)62/,014,(*0/2@@9?0(/09(.(1,3>00^4(/0/)6*)(1?0
(.@9(,/014610<,06*,0)+-/1*6(-,30(-014,0)4+(),/0<,0)6-0.6:,065+210<4()40
=++3/06-30/,*7(),/01+0@*+32),>00^42/;0,)+-+.()/0(/0+81,-03,/)*(5,306/014,0
/)(,-),0+80)+-/1*6(-,30)4+(),>0
0
_CD `La&QLJI&PFJ&PLLb&LO&KLMIPRTHMJQ&LcPHNHdTPHLM&FJbc&QJKHIHLM&
NTeJRI&NTeJ&KFLHKJIU&EFTP&RLbJI&QL&PFJ&LSfJKPHgJ&OhMKPHLM&TMQ&
KLMIPRTHMPI&cbTG&HM&T&NLQJb&LO&KLMIPRTHMJQ&LcPHNHdTPHLMU0
&
i+-/1*6(-,30+@1(.(j61(+-0699+</014,03,)(/(+-0.6:,*01+0/,9,)1014,05,/10k+@1(.69l0
691,*-61(7,0<4(9,06))+2-1(-=08+*06-?0@+//(59,09(.(161(+-/0+*0*,/1*()1(+-/0+-014,0
)4+(),/>00^4,0+5m,)1(7,082-)1(+-0*,@*,/,-1/014,0*,961(+-/4(@01+05,0.6A(.(j,30+*0
.(-(.(j,3>00n+*0,A6.@9,;060op[qrX0@*+8(10.(=4105,014,0+5m,)1(7,082-)1(+-06-306990
)4+(),/0<(9905,0,769261,30(-014,0@*+8(1082-)1(+-01+03,1,*.(-,0<4()40?(,93/014,0
4(=4,/10@*+8(1>00^4,0)+-/1*6(-1/0@96),09(.(161(+-/0+-014,0)4+(),014,03,)(/(+-0
.6:,*0)6-0/,9,)106-303,8(-,/014,0/,10+80691,*-61(7,/08*+.0<4()4014,05,/10<(990
5,0)4+/,->0
0
sCD thccLIJ&PFJ&NTReJP&OLR&aFJTP&HI&KLNcJPHPHgJu&aHPF&TM&hcaTRQv
%69 


64! 18642"4# 319
$


,&012345680931 3 96164621 64 6 642343
'()*+,-.'/**(0.1/2345.6.7)8,86279'()*+,-.74:6,7.1/2345.6,7.6,.
4;/+(+<2+/:.*2+14.)=.>?@AA.*42.</'B4(@.CB0.8)/(7.6.B+-B42.*2+14.D4@-@5.
>E@AA.*42.</'B4(F.,)G.<4.6,.4;/+(+<2+/:.*2+14H.CB0.8)/(7.6.()842.*2+14.
D4@-@5.>I@EA.*42.</'B4(F.,)G.<4.6,.4;/+(+<2+/:.*2+14HJ
.
KLJMNOJPQRSOJRTJMNOJUVQWOMJXVYJVZ[\OJMNOJO]^R_RZQR^UJPQRSO`JS[TY^UOQYJX[^_aJZOJ
XR__RTbJM[JP^QSNVYOJLOXOQJ^TRMYJMNVTJY^PP_ROQYJX[^_aJZOJXR__RTbJM[JYO__J̀SQOVMRTbJ
VTJOcSOYYJY^PP_deJJfYJY^PP_ROQYJQOV_RgOJMNOdJVQOJT[MJYO__RTbJMNOJ^TRMYJMNOdJNV\OJ
UVaOJV\VR_VZ_O`JYO__OQYJXR__JZRaJa[XTJMNOJ




&69 


64! 18642"4# 319
$%

,%012345680931 3 96164621 64 6 642343
&
&
'()*+&,-&+.,)*+&/-(+&*-.01/+(0&,-&'1(*230+&,2+)(&4--50&-(&0+(6)*+07&&89&
5+:).),)-.;&+<1)=)>()1/&)0&3&0,3,+&,23,&?)==&(+/3).&1.*23.4+5&30&=-.4&30&
+@-4+.-10&:3*,-(0&(+/3).&1.*23.4+57&A).*+&).&,2)0&*30+&01''=)+(0&?)==&=-?+(&
,2+)(&'()*+;&,2)0&2)42&'()*+&*3..-,&>+&3.&+<1)=)>()1/7&
&
B2+.&,2+&'()*+&)0&>+=-?&,2+&+<1)=)>()1/&'()*+;&*-.01/+(0&?)==&5+/3.5&/-(+&
1.),0&,23.&01''=)+(0&236+&/35+&363)=3>=+7&C2)0&+@*+00&5+/3.5&?)==&+.,)*+&
*-.01/+(0&,-&>)5&1'&,2+&'()*+0&,-&'1(*230+&,2+&=)/),+5&1.),0&363)=3>=+7&&A).*+&
,2+&'()*+&?)==&*23.4+;&),&*3..-,&>+&3.&+<1)=)>()1/7&
&
DEF GHIJKLMKJHNKOLPPNQNRSNKTNJUNNRKIRKNVWXNRWYMKZIQLIT[NKIROKIRK
NROWXNRWYMKZIQLIT[NKLRKIRKNSWRW\LSK\WON[]KGWY[OKLJKNZNQKTNKYMNPY[KJWK
SWRMJQYSJKIK\WON[KJHIJKSWRJILRNOKWR[^KNVWXNRWYMKZIQLIT[NMK_IROKRWK
NROWXNRWYMKZIQLIT[NM`]&
K
a@-4+.-10&63()3>=+0&3(+&,3b+.&30&4)6+.&).&3.&+*-.-/)*&/-5+=;&)7+7;&,2+9&3(+&
5+,+(/).+5&>9&0-/+&'(-*+00&-1,0)5+&,2+&/-5+=;&?2)=+&+.5-4+.-10&63()3>=+0&
3(+&5+,+(/).+5&?),2).&,2+&+*-.-/)*&/-5+=&>+).4&0,15)+57&
c.&+*-.-/)*&/-5+=&,23,&*-.,3).+5&.-&+.5-4+.-10&63()3>=+0&?-1=5&.-,&>+&6+(9&
).,+(+0,).47&B),2&.-&+.5-4+.-10&63()3>=+0;&.-,2).4&?-1=5&>+&5+,+(/).+5&>9&
,2+&/-5+=&0-&),&?-1=5&.-,&0+(6+&/1*2&'1('-0+7&
&
dEF GH^KOWKNSWRW\LMJMKOWKSW\eIQIJLZNKMJIJLSMKIRI[^MLM]KGHIJKQW[NK
OWKNROWXNRWYMKZIQLIT[NMKIROKNVWXNRWYMKZIQLIT[NMKe[I^KLRK
SW\eIQIJLZNKMJIJLSMKIRI[^MLM]&
K
f-/'3(3,)6+&0,3,)*0&3.3=90+0&3(+&'+(:-(/+5&,-&5+,+(/).+&2-?&,2+&=+6+=0&-:&
+.5-4+.-10&63()3>=+0&*23.4+&30&0-/+&+@-4+.-10&63()3>=+&)0&*23.4+57&&C2)0&
,9'+&-:&3.3=90)0&)0&6+(9&)/'-(,3.,&0).*+&).&,2+&(+3=&?-(=5&,2+&+@-4+.-10&
63()3>=+0;&01*2&30&?+3,2+(;&'-=)*9&,--=0;&+,*7&3(+&3=?390&*23.4).4&3.5&),&)0&
10+:1=&,-&b.-?&2-?&*23.4+0&).&,2+0+&63()3>=+0&3::+*,&,2+&=+6+=0&-:&-,2+(;&
%69 


64! 18642"4# 319
$

,%012345680931 3 96164621 64 6 642343
&'()*&')+,-./012034&,5..6'.&70894&.):.;)89010<2/&.,<0<2;,.0'04=,2,.>)+4(.3&.
0,?2'*.<@&.A+&,<2)'B.C:.&7<10)1(2'0124=.4)>.102':044.D0'.&7)*&')+,./012034&E.
;0+,&,.0.FG.9&1;&'<.1&(+;<2)'.2'.;)1'.,+994=-.3=.@)>.8+;@.>244.<@&.801?&<.
912;&.:)1.;)1'.D0'.&'()*&')+,./012034&E.2';1&0,&H.
.
IJK LMNOPQRPOMSPTQUUSVSWXSPYSOZSSWP[\RQOQ]SPNWTPW\V^NOQ]SP
NWN_`RQRaPLMQXMP\UPOMSPU\__\ZQWbPcdSROQ\WRPZ\d_TPSWONQ_P[\RQOQ]SP
NWN_`RQRePNWTPZMQXMPW\V^NOQ]SPNWN_`RQRa.
fgKLMNOPSUUSXOPZQ__PhWOSVWSOPNdXOQ\WPX\^[NWQSRPMN]SP\WPOMSP[V\UQORP\UP
_\XN_PNdO\^\YQ_SPTSN_SVRMQ[Ra.
igKjM\d_TPOMSPb\]SVW^SWOPQ^[\RSPR[SXQN_PONkSRP\WPRN_SRP\UP
^SVXMNWTQRSP^NTSP\]SVPOMSPhWOSVWSOa.
P
l),2<2/&.0'04=,2,.0<<&89<,.<).&79402'.@)>.0'.&;)')82;.,=,<&8.>)1?,.)1.<).
91&(2;<.@)>.2<.>244.;@0'*&.)/&1.<28&.3=.0,?2'*.&7940'0<)1=.)1.91&(2;<2/&.
A+&,<2)',5..m)180<2/&.0'04=,2,.:);+,&,.)'.>@0<.,@)+4(.3&.()'&.3=.0,?2'*.
91&,;129<2/&.A+&,<2)',5.




%69 


64! 18642"4# 319
$

,&012345680931 3 96164621 64 6 642343
'
'
3() *+,-./+'012/'3.+/0245'-/6/'71+01+8'9+-:+8/12;';84<20/'72::'=4'.;'48'
9475'>-59'?@'147'A.,1B'C'?.0'8+<8-25/'<84A'253.2825='-/'04'
71+01+8'012/'74.:9'?+'-'=449'0125='
C'20'2/'-5'+D-A;:+'4<';4/202E+'-5-:@/2/F'
G() H5'01+'401+8'1-59I'012/'3.+/0245'-/6/'71+01+8'20'2/'9+/28-?:+'04'
2A;4/+'0-D+/'45'J50+85+0'/-:+/I'/4'20'2/'548A-02E+'-5-:@/2/F''
K40-?:@I'012/'3.+/0245'94+/'540'-/6'71-0'01+'+<<+,0'4<'/.,1'
0-D+/'74.:9'?+F'
'
'
'
LMNOPQMRSTPMTUVMWNXYS'
T
Z[Z\ ]^_`a__bcdebfghhgi^jkb_clcemejcnbopqrstb_auuhvbljwbwemljwb
`axye_blxeblhilv_b_d^fc^jkzbmlx{ec_bjeyexbl`calhhvbxel`dbljb
e|a^h^}x^am~bdexefgxezbcdeb`gj`eucbgfbe|a^h^}x^amb^_b€t‚tƒ„'
b
12:+'01+',:-2A'01-0'A-86+0/'5+E+8'8+-,1'-5'+3.2:2?82.A'2/';84?-?:@'9+?-0-?:+I'
+E+5'2<'A-86+0/'94'540'+E+8'8+-,1'+3.2:2?82.AI'01+',45,+;0'2/'/02::'4<',+508-:'
2A;480-5,+F''†1+',45,+;0'4<'+3.2:2?82.A'2/'2A;480-50'?+,-./+'20';84E29+/'-'
/2A;:+'7-@'04';8+92,0'147'A-86+0';82,+/'-59'3.-50202+/'72::',1-5=+'-/'
+D4=+54./'E-82-?:+/',1-5=+F''†1./I'712:+'7+'A-@'5+E+8'8+-,1'-';-802,.:-8'
+3.2:2?82.A';82,+I'/-@'?+,-./+'-'/.;;:@'48'9+A-59'/,1+9.:+'/12<0/'-/'01+'
A-86+0'A4E+/'047-89'+3.2:2?82.AI'7+',-5';8+92,0'7201'8+:-02E+'+-/+I'<48'
+D-A;:+I'71+01+8';82,+/'72::'?+'82/25='48'<-::25='71+5'+D4=+54./'A-86+0'
<-,048/',1-5=+'-/'7+'A4E+'047-89'+3.2:2?82.AF''‡/''+D4=+54./'E-82-?:+/'
,45025.+'04',1-5=+I'7+',-5',45025.+'04';8+92,0'01+'928+,0245'4<',1-5=+'<48'01+'
+594=+54./'E-82-?:+/I'-59'012/'2/'540'ˆ‰Š‹Œ‹ŠŠŽ'
'
Z[\ jbljblxc^`hebejc^chewzbo‘’“rb”x^`e_b•axkebgjb–—ugxcb]emljwzb˜xgub
&69 


64! 18642"4# 319
$%

,&012345680931 3 96164621 64 6 642343
'()(*+,-./012330456//507896:230;<=>?;@;=<,A=B=CDE,=FGH=>GIA,AJGKLA,?JD?,
MIAJ=<,NOPO,KGC>,MC;K=A,AJDCMEQ,J;HJ=CORSTTUVWTUXYVZ[\TU]^U_XY`aUbc[[WTVVZdU_cecfVU
ggdUhiijdUklUmhjlU`aUaXVZ`aX\UZa[`nTloUPIMMGA=,?J=,NOPO,pDCL=?,@GC,KGC>,;A,
KGpM=?;?;B=q,r;?J,D>,IMrDC<sAEGM;>H,AIMMEQ,KICB=,D><,D,<Gr>rDC<s,
AEGM;>H,<=pD><,KICB=O,tGC,=DKJ,G@,?J=,@GEEGr;>H,AK=>DC;GAq,;EEIA?CD?=,
HCDMJ;KDEEQ,JGr,?J=,=FGH=>GIA,=B=>?,<=AKC;u=<,r;EE,KG>?C;uI?=,?G,D,J;HJ=C,
MC;K=,G@,KGC>,;>,?J=,NOPO,pDCL=?OU
vwxyJ=,NOPO,z=MDC?p=>?,G@,{HC;KIE?IC=,D>>GI>K=A,?JD?,=FMGC?A,G@,KGC>,?G,
yD;rD>,D><U
|DMD>,r=C=,}~€€‚~‚ƒ„†,‡ ‚~ˆ*+,DCGI><,‰Š,M=CK=>?,J;HJ=C,?JD>,JD<,u==>,
=FM=K?=<OU
‹wxPGp=,D>DEQA?A,MCGŒ=K?,?JD?,?J=,A;=,G@,?J=,NOPO,KGC>,KCGM,r;EE,J;?,D,A;Fs
Q=DC,EGr,u=KDIA=,G@,<CQ,r=D?J=COU
ŽwxyJ=,A?C=>H?J=>;>H,G@,E,;‘Gq,?J=,p=?=GCGEGH;KDE,?C=><,?JD?,uC;>HA,
rDCp=C,r=D?J=C,?G,?J=,r=A?=C>,KGDA?,G@,PGI?J,{p=C;KDq,C=<IK=A,KGC>,
MCG<IK?;G>,GI?A;<=,?J=,N>;?=<,P?D?=Aq,?J=C=uQ,;>KC=DA;>H,@GC=;H>,
’“ƒ)€‚”~•,<=M=><=>K=,G>,?J=,NOPO,KGC>,KCGMOU




&69 


64! 18642"4# 319
$%

,&012345680931 3 96164621 64 6 642343
'
'
3() *+,-,./.012345.15467-8,94/:26/4;6:0495:949564<6;:0<4=8,4>8,04
?:/45.156,495:0467-6>96<@4:94AB4,:956,495:04ACD4
4
4
E4 H
'
EB4
EC4
4
4 I

4 I

4
4
4
F4
'
G() A,34?6:956,4?8+2<4,6<+>649564/+--2348=4>8,0@4984*B4,:956,495:04*CD4
4
4
4
4 H

E4 H

'
EB4
4
EC4
4
4 I
4
4
4
4
4
&69 


64! 18642"4# 319
$%

,&012345680931 3 96164621 64 6 642343
'(
)
*+ ,--./012(345(6787(9:5-(1:3(0/;:<3(=:<1>(<59.=59(;<:9.=30:1(
:.3-095(345(6787(?:.@9(1:3(0/;A=3(6787(=:<1(/A<B53(-.;;@C7((D@(
E01:(?:.@9>(4:?5F5<>(=A.-5(95/A19(G:<(6787(=:<1(3:(-40G3(:.3>(
345(G02.<5(H5012(345(-A/5(A-(01(;A<3(IAJ(AH:F57(
(
KLMN OP)QRSTU)VWWXY)Z[Q)\S]^Q)_`)_]T)_P)Z[Q)a_STb)cRSdQZ)]P^SQReQbY)[]ZZ]Pf)
R)\QRd)_`)Rg_hZ(
ijkW)\QS)gRSSQT)]P)lhTUY)VWWXm)OP)Z[Q)eQ^_Pb)[RT`)_`)VWWXY)Z[Q)\S]^Q)_`)_]T)
bQ^T]PQbY)QPb]Pf)Z[Q)UQRS)RZ)nheZ)_oQS)ikW)\QS)gRSSQTm)ph\\_eQ)Z[RZ)Z[Q)
fT_gRT)cRSdQZ)`_S)_]T)^RP)gQ)bQe^S]gQb)gU)RP)h\aRSbqeT_\]Pf)eh\\TU)^hSoQ)
RPb)R)b_aPaRSbqeT_\]Pf)bQcRPb)^hSoQm)r_S)QR^[)_`)Z[Q)`_TT_a]Pf)
e^QPRS]_eY)]TTheZSRZQ)fSR\[]^RTTU)[_a)Z[Q)Qs_fQP_he)QoQPZ)^_PZS]ghZQb)Z_)R)
S]eQ)_S)R)bQ^T]PQ)]P)Z[Q)\S]^Q)_`)_]T)]P)VWWXt(




&69 


64! 18642"4# 319
$%

, % 012345680931 3 96164621 64 6 642343
&
&
'() *&+,,-./0&12,/,-3&./&45./6&76.819&:51&0;,+6;&91-6/9&<,7&,.;&:,&
712,79&;1=1;8&./&>??@AB
C() *8&6&718D;:&,<&:51&<./6/2.6;&27.8.8&,<&>??@E&:51&FAGA&6/9&,:517&
91=1;,H19&12,/,-.18&H;D/019&./:,&6&81=171&712188.,/&./&:51&
;6::17&56;<&,<&>??@AB
I() J19D219&812:67.6/&=.,;1/21&./&K76L&./&>??@&1/6+;19&K76L&:,&
./271681&.:8&,.;&H7,9D2:.,/&26H62.:3AB
&
& 3#R STTUOVWBQPTVTUXBOVBYZOV[B\ZO]^\B^ZQB_QU[V_BP`NaQB]TNBTObB
& NOWZ^c[N_Bd]NTUBefB^TBegBhQbTcijBPTV^NOh`^OVWB^TB[VBOVPNQ[\QBOVB^ZQB
& kNOPQBT]BTOblB
& m#R nQPQ\\OTVBOVB^ZQBolplB[V_BT^ZQNB_QaQbTkQ_BQPTVTUOQ\B\ZO]^\B^ZQB
& _QU[V_BP`NaQB]TNBTObBbQ]^c[N_Bd]NTUBefB^TBegBhQbTcijBPTV^NOh`^OVWB
& ^TB[B_QPNQ[\QBOVB^ZQBkNOPQBT]BTOblB
& #R qVPNQ[\QBOVBTObBkNT_`P^OTVBP[k[PO^XBOVBqN[rB\ZO]^\B^ZQB\`kkbXB]TNBTObB
& NOWZ^c[N_Bd]NTUBpfB^TBpgBhQbTcijBPTV^NOh`^OVWB^TB[B_QPNQ[\QBOVB^ZQB
MNOP kNOPQ06
BT6]BTOb4lB1646443
QB 

B
B
B
B s

B s

B t 34 
B
B
B
B
B
MNOPQB u11226441v##
B 

B
B
% 69 


64! 18642"4# 319
$


s

s

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller timonlopez29. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $15.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

52928 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$15.99
  • (0)
Add to cart
Added