Unformatted text preview: ng your answer from question 33 and the information above, what is the correct cost associated with the optimal conditional factor demands: [Pen. 0.5] A. C = 69.5 B. C = 61.6 C. C = 102.7 D. C = 75.8 E. Abstain 35. Use the profit maximisation technique to find the factor demands for this firm: [Pen. 0.5] A. K* = 11.6 and L* = 34.7 B. K* = 12.6 and L* = 37.9 C. K* = 10.3 and L* = 30.8 D. K* = 30.8 and L* = 10.3 E. Abstain 15 36. Using your answer from question 35 and the information above, what is the correct profit associated with the optimal factor demands: [Pen. 0] A.
B.
C.
D.
E. ∏ = 42.3 ∏ = 38.5 ∏ = 47.6 ∏ = 53.4 Abstain 37. Bad weather will lead to an increase in the price of fresh flowers within a week because the supply curve for fresh flowers is ............ We would not expect the same phenomenon to arise with dried flowers because the supp...
View
Full Document
 Spring '11
 JULES
 Microeconomics, representative, E. Abstain

Click to edit the document details