micro- chapter 1 hw - weather seems to be a little bit...

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Steve Siegel Microeconomics 1/29/2008 1.2. By adding four pounds of compost your profit will be maximized at $37, not including the cost of production. 1.6. If the physics exam was taken again, time should be reallocated to focus more time on the second question. For the same amount of time spent on the two questions, I earned six extra points on problem two or 150% greater value. Therefore if more time was spent working on the second problem more points would be awarded in the same amount of time then would have been in problem one. Therefore although he would lose a few points on the first problem, he would gain more than double the amount of points he would have earned in the first problem. 1.8. Both Joe and I are rational. We are also both as likely to attend the game in Ithaca even though the
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Unformatted text preview: weather seems to be a little bit questionable. The only reason Joe did not buy a ticket in advance is because he was unable to make it to a ticket master outlet. Therefore he did not have to pay the service charge. The advantage to purchasing tickets in advance is to guarantee you a good seat. However, if good seats will for sure be available the ticket master would not have been necessary to obtain good seats and both Joe and I will attend because our tastes are identical. 1A.2. B=18+.40t, Monthly Fee- $18, Charge per minute- 40 cents 1A.5. Vertical Intercept: 10, Monthly Fixed Fee: $10, Charge per minute: $1, Charges for 1 hour of long distance calls per month: $70...
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