331-ch11-tut

# 331-ch11-tut - ECON 331 Tutorial Questions 2 Variable...

This preview shows pages 1–2. Sign up to view the full content.

ECON 331 Tutorial Questions: 2 Variable optimization Make Sure to check second order conditions for all solutions MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) A monopolist produces two products, A , and B . The joint-cost function is c = 5 q A + 3 q B + 5000 where c is the total cost of producing q A units of A and q B units of B . the demand functions for these products are given by p A = 205 - 2 q A - q B and p B = 153 - q A - q B , where p A and p B are the prices of A and B , respectively. The number of units of A and the number of units B that should be sold to maximize the monopolist's profit is A) 75 units of A and 100 units of B. B) 15 units of A and 25 units of B. C) 50 units of A and 75 units of B. D) 10 units of A and 15 units of B . E) 25 units of A and 50 units of B. 1) SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. 2) Determine the critical points of

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### Page1 / 2

331-ch11-tut - ECON 331 Tutorial Questions 2 Variable...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online