ps3_4_5

# ps3_4_5 - 1. y x 4 ln x . Then A. y 4 x 3 ln x 1 B. y 4 x 3...

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ECON300 second midterm Page 1 of 6 1. 4 ln y xx . Then A. 3 4l n y   B. 3 1 4 y x x   C. 33 n y x  D. 35 n y x E. None of the above 2. 2 ln( 4 8) yx x . Then A. 2 4 y x B. (2 4) x ye   C. 24 x y x   D. 2 48 x y x x    E. None of the above 3. 4 y x . Then A. 3/2 2 y x  B. 2 y x C. 2 y x   D. 2 y x   E. None of the above 4. Demand is given by 10 2 qp  . What is the price elasticity of demand at p = 2? A. 2/3 B. 1/2 C. 3/2 D. 2 E. None of the above

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ECON300 second midterm Page 2 of 6 5. 1/3 2/3 3 QK L . Then A. 2/3 2/3 MPK K L B. 1/3 1/3 2 MPL K L C. Q is homogeneous of degree 1 D. All of the above E. None of the above 6. 1/3 3 L . Then A. dK K dL L  B. dK L dL K C. 2 dK L dL K D. 2 dK K dL L E. None of the above 7. 1/4 1/2 4. L Then A. Q is homogenous of degree 1/4 B. Q has decreasing returns to scale C. Q has constant returns to scale D. Q has increasing returns to scale E. None of the above 8. 22 73 2 ;4 9 ;5 . y xx w w x zw z  What is dy / dz ? A. (14 3 )4 (3 4 )5 x xw w  B. 3 )4 (4 3 )5 x wx w C.
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## This note was uploaded on 12/04/2011 for the course ECON 300 taught by Professor Cramton during the Fall '08 term at Maryland.

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ps3_4_5 - 1. y x 4 ln x . Then A. y 4 x 3 ln x 1 B. y 4 x 3...

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