test2 - Econ 149 Midterm 2 Directions: Everyone must...

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Econ 149 Midterm 2 Directions: Everyone must complete the first three problems. However, you only need to do two out of the last three problems. You must explain how you came to your answers for full credit. Be sure to leave time for each section, so do all the problems you know how to do first, and then come back to the rest. Please both print and sign your name below. Name: By signing my name, I am acknowledging that I will abide by the honor code and understand the implications of not doing so. 1. 2. 3. Please circle the two questions you want graded. 4. 5. 6.
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1. (10 pts) In an old spellbook Harry finds the following w p 4 2 . He can’t remember whether this is a factor demand for labor, a conditional factor demand for labor, a profit function, or a cost function. Help Harry out by telling him what it is and why. Also, if it is a factor demand, find the profit function. If it is a conditional factor demand, find the cost function. If it is a profit function, find the factor demand for labor. If it is a cost function, find the conditional factor demand for
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This note was uploaded on 05/22/2010 for the course ECON 105D taught by Professor Cur during the Fall '09 term at Duke.

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test2 - Econ 149 Midterm 2 Directions: Everyone must...

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