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test_2_007

# test_2_007 - 2 1,1 A ‘2 A 3 2t)o’bﬂlf a i 263-2X3 Oct...

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Unformatted text preview: 2 \ { 1}\ ,1? A) : ‘2 A: 3: 2t!) : )o’bﬂlf a i; 263-2X3 Oct. 6 make up quiz, Harry’s demand function for blueberries is Q : 20 - 2P where P is the price and Q is the quantity demanded. If the price of blueberries [email protected] what is Harry’s price elasticity of demand for blueberries? 7 p A (Q? (C) (d) (e) (6) -3133 2 a r <9 e? —2 : 31:11 E —14/6 A? Ox. Noneoftheabove. I, FR. .5; _ _ "A {4+} - [V conditions is I I“ C ‘ 7_ _-/AUC The rising portion of the marginal cost curve. +1 The rising portion of the marginal coﬂgurve above the minimum point of the average variable cost curve. The rising portion of the average variable cost curve. The rising portion of the average total cost curve. The rising portion of the marginal cost curve above the minimum point of the average total cost curve. Ni C t demand for adult ticket is éﬁ If the above prices are Optimal, the elasticity of demand (—25. A cinema charges \$3 per ticket for children and \$5 per ticket for adult. The elyagigtloi” i or children tickets must be: ii. 3 Z» a. —1.25. b. #2. @425. d. —2.75. e. 369‘ t. f None of the above. LM @n acgpnpetitm market, each ﬁrm has a long-run average cost function: AC : 2y2 — 40y + 60. The efﬁcient scale of production is: a. @ c. d. E. 5. 10. 15. 20. 25. am 243” : M 4m : o. (ii-“j : U a ...
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