spring 2005 midterm 2

spring 2005 midterm 2 - Professor M Rush ECO 2023 SPRING...

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Professor: M. Rush ECO 2023 SPRING 2005 MIDTERM 2 Read all instructions on this page Please enter on the answer sheet: 1. Your name and initials 2. Your UF ID number 3. Special Code: 21 4. Test code: A 5. Sign your name on the back of the bubble sheet. 6. Read all instructions on this page!!!!!! DO IT NOW, NOT LATER!!!!! This test is intended to have 31 questions. Please check to be sure your copy has all 31. There might be a question on the last page: Do NOT skip it and be sure to answer it! Be sure to answer all the questions. The next is important : Unless you are specifically told otherwise, on this test do not assume that demand or supply is either perfectly elastic or perfectly inelastic . Do not ask questions of me or the TA’s; in the interest of fairness I have instructed them not to answer any questions during the exam. I have become increasingly concerned that some students are at a real disadvantage because they are unwilling to ask questions during the exam while others ask a lot of questions. So to level the playing field, I have decided to eliminate all questions during the test. I don’t like this policy, but it seems the fairest policy. TURN OFF ALL CELL PHONES AND OTHER COMMUNICATION DEVICES An answer key will be posted on the web after the test ends. The test scores will be on the Web within a few days. Check if the test code and UF ID number you bubbled-in are correct now. Also check to be sure your name is correct—do it now. As I said on the last exam, I heard rumors that the ability to correctly record the test code has been mastered by a few students at FSU. I am still checking this out. But in the meanwhile a friend told me that accounting majors have been known to be able to record this letter, often correctly. I also have heard of one journalism major who could get the letter right at least 30% of the time! And, I hear a rumor that another journalism recorded the special code correctly! While I doubt this last rumor, because the special code involves numbers, which means it is close to being math, nonetheless I think that the skill of correctly bubbling in your name, the special code, and test code is not too difficult to acquire. CHECK YOUR TEST CODE AND UF ID. IF YOU GET THESE WRONG, YOU MAY LOSE 5 POINTS! After the scores are posted, if you think your posted score is incorrect, email the grader at the email address on the web page. You have one week after the curved score is posted to request a grade check. If the web reports what you bubbled in for each question and you ask the grader to check an answer because you believe you bubbled in something other that what is reported and the reported answer on the web is correct, you will lose 1 additional question.
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ECO 2023 MIDTERM 2 SPRING 2005 2 1) In a small town, a monopoly pizza producer maximizes its profit by producing 1,000 pizzas and setting a price of $15 for each pizza. The marginal revenue from the
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This note was uploaded on 04/29/2008 for the course ECO 2023 taught by Professor Rush during the Fall '08 term at University of Florida.

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spring 2005 midterm 2 - Professor M Rush ECO 2023 SPRING...

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