Exam #2 April 1st, 2009 Name_ 1. A firm has one plant with the following cost function: C1 = 10q 4q 2 + q 3 a. What is the marginal cost for this firm?
b. What are the total fixed costs for this firm?
c. What are the total variable costs for this firm?
AEC 303 Exam #1 February 23, 2009 1. Recently, a downtown movie theater reduced its ticket price on Monday evenings from $5 to $2 and (everything else staying constant) average ticket sales on Monday evening rose from 100 to 400. a. Calculate the price el
Name_ AEC 303 Final Exam May 8, 2009
1. You have an income of $60 to spend on movie tickets and basketball tickets. Movie tickets cost $6 and basketball tickets cost $12. a. If you spent all of your income on movie tickets, how many could you buy? b. What
Delineate the nature of a firms cost explicit as well as implicit. Outline how cost is likely to vary with output in the short run and various measures of short-run cost. Detail the typical shapes of a firms short-run cost curves. See