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Summer 2008 - Quiz 2

Summer 2008 - Quiz 2 - VERSION 1 FAMILY NAME INITIAL...

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VERSION 1 1 FAMILY NAME / INITIAL STUDENT ID # S O L U T I O N S MIME 310 ENGINEERING ECONOMY – QUIZ #2 May 8, 2008 – 8:30 to 9:15 Short Problems – Circle the correct answer on this paper and record it on the com- puter answer sheet. All questions are worth 1.25 points each for a total of 10. Note : There are no penalties for incorrect answers. 1. A firm with sales of $1 million, a net after-tax income of $30 000, total assets of $1.5 mil- lion, total liabilities of $750 000 and no preferred equity has a return on equity of: A) 20 % B) 15 % C) 4 % D) 3 % E) None of the choices listed above Use the following information to answer questions 2 and 3. The demand and supply functions for a particular product are: Q D = 189 - 2.25 P Q S = 124 + 1.5 P 2. The market equilibrium price and quantity are, respectively:
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