errata-im

Errata Intermediate Microeconomics Hal Varian October 14, 1999 Errata in Fifth Edition Printing 1 p310. Corrected footnote wording to say that all four auction forms yield the same allo- cation and the same expected price, and add reference to Paul Klemperer’s survey. p311, line 10. Changed wording to say \an optimal strategy." p311, line 20. Removed \strategically." p612. Removed reference to \Figure" (which wasn’t included). p613. Changed � and � to a and b on entire page. Errata Remaining in Fourth Edition p19. A question got dropped, making question 7 unintelligible. Should add the question back in. (Pablo Florian) p. 215, �gure 12.1 The \Choice" point on the horizontal axis is labelled $35; 000−γK−K. It should be $25; 000− γK +K (the post-accident wealth, minus the premium paid, plus the insurance payment received). p. 241. \The Standard & Poor’s index is based on the average performance of 500 stocks traded on the New York Stock Exchange." Not true! Many stocks other than NYSE stocks are in S&P500. p. 506, \According to Walras’ law it must also be true that : : : " In the following equation, the p1 and p2 multiplying the excess demands should be p�1 and p � 2. Printing 6 337 Figure 19.1 the horizontal axis should be labeled x1, not x 429, 14 up. x01 should be x m 1 . Printing 5 Chapter 2 30, Figure 2.6. Needs A and B labels under �gure. Chapter 7 122, Figure 7.3. The line to the right of Z should be horizontal. (John Weymark) Chapter 12 227, problem 2c. This is only an a�ne transformation for �xed �1 and the question doesn’t specify that. Probably should change the question to avoid confusion. (Marcelo Clerici- Arias) 1 Chapter 28 485, shift !1B to left about .25 inch, and shift ! 2 A up by the same. Printing 4 Chapter Preface xxi, Pro�t Maximization chapter is omitted in flowchart by mistake. Chapter 2 30, Figure 2.6. Should draw �gure to scale. Also, should have number. Chapter 3 46, should say \gives a weight of t to the x-bundle and 1− t to the y-bundle." 51, 4 lines from start of section. Omit \at −1". Chapter 12 220, 9 up. 10 should be 15. (S-Maus) 226, 2 up. Figure 12.2 should be 12.1 (S-Maus) Printing 4 430, right before quote: \eighteenth" should be \nineteenth". 431, line 5. \eighteenth" should be \nineteenth." 489, fragment missing at top of page: \A senior director of marketing for a major U.S. airline described a case in which Northwest lowered fares on night flights from Minneapolis to various..." Printing 3 Chapter 16 285, 10 and 14 down. pp should be dp. (S-Maus) FIXED 290, 6 down. it should be bt. (S-Maus) Chapter 19 336, line 1. \equations" should be \expressions" (S-Maus) FIXED Chapter 20 357, 3 lines below �gure. \three" should be \four". (S-Maus) FIXED Chapter 21 371, �gure caption. Should say \producer’s surplus". (S-Maus) FIXED Chapter 22 392, paragraph 4. say \industry with entry legally restricted." (S-Maus) 2 Chapter 25 440, axis label: should say \factor" rather than \labor". (S-Maus) 445, (answer to question 2 on A23). Say \we would presumably see unemployment." (S-Maus) Chapter 32 576, line 10. Should be p− �γ(p− c). (S-Maus) Printing 2 Chapter 2 30, Figure 2.6. Label is missing. Chapter 5 83, Table 5.1. Numbers in utility column should be (57., 33.9, 47.9, 67.8, 95.8, 80.6, 161.). (Ernest Lucas) 84, middle of page. \: : :better o� than he was in year 2 but worse o� than he was in year 3." Chapter 15 245, Figure 14.1. Label on wrong side of page. Chapter 16 285. line 10: pp should be dp. line 14: pp should be dp. line 20: DB should be bc. (Stefano Chinellato) 286. line 4: CZ should be bc. (Stefano Chinellato) Chapter 21 p. 371, Figure 21.5. Figure explanation should say producer surplus, not consumer surplus. Printing 1 Chapter 27 474. Game matrix should be white, not blue. (Hal Varian) Chapter 32 568, line 9. Should say \: : : the expected cost of the crime to the criminal, �(e)F , is independent : : :" (Peter Huang) 573, last word on page. Should be \victim." (Peter Huang) Chapter Appendix A2. Figure should be drawn to scale. 3