Welfare and the Theory of the Firm

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Welfare and the Theory of the Firm

Task File: PSet_Welfare_Theory of the Firm
1. The final deadline is 10AM (GMT-4), Oct.6, 2020. Any answers submitted after the deadline will not count toward the grade, so any extension is not possible.
2. No detailed explanations are needed, but basic explanations and clear equations should be added, when necessary, for the grader to follow the logic.
3. The answers should be typed out using the same notation system as the questions.
4. Please refer to the lecture slides, Chapters 3-5 of Microeconomic Theory by MWG, and Chapters 12-13 & 9 by Kreps (both can be easily found online) for reference. I will send out more slides once they are available.
5. Questions may be subject to revision. I will send out the updates from the instructor.
6. Please list your references when directly citing any material.