Econ 100A FINAL EXAM SP07 - Econ 100A: Microeconomics,...

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Econ 100A: Microeconomics, Spring 2007, Dr. Famulari Final Exam, Version A: 500 Points Name_______________________________________ Student Number__________________ Question # Points Question 1: 40 points Question 2: 45 points Question 3: 60 points Question 4: 75 points Question 5: 25 points Question 6: 40 points Question 7: 60 points Question 8: 35 points Question 9: 15 points Question 10: 50 points Question 11: 55 points Total points: 500 STUDENT CONSENT FOR RELEASE OF STUDENT INFORMATION (Buckley Waiver) I hereby authorize the UCSD Economics Department to return my graded final examination/research paper by placing it in a location accessible to all students in the course. I understand that the return of my examination/research paper as described above may result in disclosure of personally identifiable information, that is not public information as defined in UCSD PPM 160-2, and I hereby consent to the disclosure of such information. Quarter: Spring Course 100A Date 6/14/07 Instructor FAMULARI Student ID# Print Name Signature
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1. (40 points total) Widgets are produced using exactly three units of L and one unit of K: extra L without additional K are of no use to the firm as is extra K without extra L. A. (10 points) What is the production function for widgets? B. (15 points) Assume the widget manufacturer signs a contract to have 20 K delivered every day for the next month. In the short run, the firm’s K quantity is fixed, but she can adjust the amount of L she uses each day. What is the firm’s demand for L in the short run, L SR (q, K )? C. (15 points) What is the short run total cost function, STC (w, r, q, K ), of making widgets when the w=$6 and r=$3? What are the firm’s variable costs of making widgets? What are the fixed costs? 2.
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Econ 100A FINAL EXAM SP07 - Econ 100A: Microeconomics,...

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