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Econ100C-Fall2009-Final

Econ100C-Fall2009-Final - Name(Please print neatly...

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Name______________________________________ (Please print neatly.) Economics 100C: Microeconomics C Final Exam December 10, 2009 Herb Newhouse Your exam has 7 questions. Including this cover page the exam has 8 pages. You can use a 8.5” by 11” sheet of paper with handwritten notes on both sides, pens and pencils, a calculator and a straight edge. You may not have anything attached to the sheet of paper. All other material should be off your desk. Answer all parts of all questions. Clearly show your work. Full credit might not be given for a correct answer with incomplete work. Buckley Waiver I hereby authorize the UCSD Economics Department to return my graded Final examination by placing it in a location accessible to all students in the course. I understand that the return of my examination 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. Print Name:_________________________________________________________ Signature:__________________________________________________________

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1. (12 pts) A monopolist has the short run cost function of ( ) 2 4 CQ F Q =+ where F > 0 is a fixed cost. Inverse market demand is equal to ( ) 60 2 D PQ Q =− . a. Assuming no shut down find the monopolists profit maximizing price and quantity. b. For what values of F (if any) will the monopolist shut down? Explain. c. Describe how the equilibrium will change if the government charges a per unit tax of t for each unit of the good that’s sold. You do not need to do any calculations but describe the direction of the changes in the equilibrium quantity, consumer surplus, producer surplus and deadweight loss.
2.

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Econ100C-Fall2009-Final - Name(Please print neatly...

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