Summer 2006
Econ 2100 Exam 2 Form A
Prof. Chul Chung
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the
question.
1) By reducing its output compared to a competitive market, a monopoly leads to 1) _
A) external co
Summer 2006
Econ 2100 Exam 3 Form O
Prof. Chul Chung
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the
question.
1) In the short run 1) _
A) a firm's plant size is fixed. B) no resources are fixed.
C) labor usage
Frank Chapter 9 (Blue Book) 1. Firm: profits. that takes input, provides output, maximizing
2.
: Period of time where one or more factors' quantities are fixed and one or more factors' quantities are variable.
3. Opportunity Cost: value of a resou
Frank Chapter 9 (Blue Book) K=4 q = 4K1/2L1/4
What is the Short Run Production Function? What is the Short Run Average Total Product of Labor? What is the Short Run Marginal Product of Labor? What is the Short Run Average Total Product of Capital? W
Question #1
Assume this years values represent next years values
Question #2
Assume this years values represent next years values
Question #3
Question #4
Question #5
Question #6
Assume this years values represent next years values
r is present but not DIV
Fall 2010 Quiz #10
ECON 3150 A and Z
Read each question very carefully before beginning.
You may use a calculator and a 3x5 note card with formulas written on it
Honor code pledge
I signify that I have conformed to the Georgia Tech Honor code during this
Spring 2005
Econ 2100 Exam 4 Form O
Prof. Chul Chung
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the
question.
1) The circular flow diagram shows 1) _
A) how the prices of factors are determined.
B) the effects
Exam
Name_
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) The fact that wants cannot be fully satisfied with available resources reflects the definition of
A) the what tradeoff.
B) scarcity.
C) fo
Frank Chapter 11 (Blue Book) Starting with the production function, q = L1/3K2/3, answer the following four questions
1. Suppose K = 27, wages are $9 and the opportunity cost of capital (price of capital) is $1, and the price of the output is $300 i
Write your real name on the back of the test below the paperclip. E-Mail:
Code Name Here:
Write only on the front of the page. Only legible writing will be considered for points. Circle all answers. Read each question very carefully before beginning
Frank Chapter 10 (Blue Book)
1.
Which letter corresponds to the minimum average cost?
2.
Which number corresponds to the fixed costs?
3. costs?
Which letter corresponds to the intersection of the marginal and average
ATCL ~ w/ATPL ATCK ~ r/ATP
Frank Chapter 9 (Blue Book)
1.
Which letter corresponds to the minimum average cost?
2.
Which letter corresponds to the fixed costs?
3. costs?
Which letter corresponds to the intersection of the marginal and average
a) Shape of the curves i) S
Frank Chapter 9 (Blue Book)
If your factory has a production function defined as q = f(K,L) and it operates in Knightian Stage I for labor, what Knightian Stage are you in for Capital?
Short Run:
Period of time where one or more factor's quantitie
Frank Chapter 10 (Blue Book) 1. Identify, define, and give three examples of the three kinds of production inputs.
1) Types of Costs a) Capital i) Accounting (1) Depreciation, or (2) Mortgage Payments ii) Economic (1) Rental Payments (2) Return on S
Frank Chapter 9 (Blue Book) q = 4K1/2L1/4
What is the Long Run Production Function? What is the Long Run Average Total Product Function of Labor? What is the Long Run Marginal Product Function of Labor? What is the Long Run Average Total Product Fun
Write your code name on the back of this top corner of the last page. E-Mail:
Real Name Here: When you are through, fold your papers lengthwise and print your name on the top right hand corner of the back of your last page. Write only on the front o
1. Assume a competitive market in the short run for a firm's products. Assume a standard cost function. On three blank pieces of white paper provided, draw three graphs. On the first graph, draw the marginal and average cost and the marginal and aver
Frank Chapter 10 (Blue Book)
1. Which letter corresponds to the inflection point on the total production function?
2. Which letter corresponds to the peak output on the total production function?
3. Which number corresponds to the tangency between
Spring 2006 Midterm ECON 3150 A Write your code name on the back of the test just below the paperclip.
Write only on the front of the page. Only legible writing will be considered for points. Write all answers in the blank provided on the next page.
Frank Chapter 11 (Blue Book) a) The competitive model i) Foundation of all other models (1) All other economic models are the results of exceptions to the assumptions of the competitive model ii) Assumptions (1) Homogeneous product (a) Definition of
Frank Chapter 10 (Blue Book) Assume the production function q = 16K.5N.25 represents a family farm. In this case, the family owns acres of land (N) that it can farm or rent each year. The rental rate for the land is f. The family can also lease machi
Frank Chapter 10 (Blue Book) Assume the production function q = 16K.5N.25 represents a family farm. In this case, the family owns acres of land (N) that it can farm or rent each year. The rental rate for the land is f. The family can also lease machi
Frank Chapter 10 (Blue Book) Starting with the production function, q = L1/3K2/3, answer the following questions 1. Suppose K = 8, wages are $4 and the opportunity cost of capital (price of capital) is $1, what is the total cost function?
1.
A firm
ECON294 Microeconomics
Online Class Timothy Hamilton
Rzlyn Blakemore
One entrepreneur that I conceded to be a legend amongst African American
women is Madam C.J. Walker. I chose to write about her because to me she was
more than an entrepreneurial legend