quiz 2.A solutions(2)

quiz 2.A solutions(2) - Quiz 2 ECON 010 Fall 2011 Total...

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Unformatted text preview: Quiz 2 ECON 010, Fall 2011 10/17/11 Total Score NAME:_________________________ RI’s NAME:__________________________ Recitation Section/ Time:______________________ INSTRUCTIONS • Please put your name on BOTH pages. • There are a total of 3 questions. • There are 20 total points. Plan your time accordingly. • Read all questions carefully. • ONLY four function calculators are allowed. • Write legibly and label any diagrams appropriately and thoroughly. • This quiz is given under the terms of Penn’s Code of Academic Integrity 1 NAME: RI’s NAME: QUESTION 1 (4 Points) You are given the following information about the total costs of a corn farmer for different amounts of bushels of corn. Suppose that the price in the market for a bushel of corn is $8.00. Answer the questions below. Total Costs (in $) 10 18 24 26 30 36 44 54 66 quantity (in bushels) 1 2 3 4 5 6 7 8 a) The corn farmer will produce ______ 6 ______ bushels of corn. (2 points) b) The corn farmer’s total revenue will be ____...
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quiz 2.A solutions(2) - Quiz 2 ECON 010 Fall 2011 Total...

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