Assignment 2

Your second assignment, due Monday, September 9th, comes from problems in Charles Lave and James March, An Introduction to Models in the Social Sciences. A final problem involves you thinking a little bit and collecting a little bit of data.

For Lave and March, tackle the following problems:

Problem 4.5, #1
Chapter 5.3, Problem #3
Chapter 5.4, Problem #5

For the last problem, do the following:

I am always interested in the tradeoffs people are willing to

make between Beer and Ice Cream.

Calculate the indifference contours for three of your colleagues. For

purposes of comparability, have your colleagues assume that a serving of beer

is $1.75, while a serving of ice cream is $1.00.

Detail the method you used to elicit the indifference contours from each

person you cornered.

Finally, given a budget constraint of $13.00, how would each of your "subjects"

maximize their utility? What would be their preferred bundle of beer and ice cream?

Have fun.
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