Econ 302 Exam 2 McLeod Name (please print): __________________________________________________________ Penn State ID #: __________________________________________________________ Please write all answers in the spaces provided. Please show your work in order to receive any partial credit on this exam. 1. (16 points) Suppose a firm has a production function given by Q = L1/2K1/2. Therefore
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EC 3101: Microeconomic Analysis II A/P Indranil A/P Indranil Chakraborty All relevant details on EC3101 are in the syllabus The morning office hours on Tuesday will start from the third week of lectures t tf th thi d k fl t Important Highlights Important Highlights • Text book: Intermediate Microeconomics: A modern h approach by Hal R. Varian (8th edition) One midterm and one final exam Please do not email material‚ lecture or exam related questions. Post your questions precisely on IVLE Forum or ask
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whether each of the following statements applies to microeconomics or macroeconomics‚ and why: 12 Marks Total a. The unemployment rate in Canada was 7.0 percent in January 2010 Answer: This is the macroeconomic statement because it describes the unemployment rate of the whole country. b. A Canadian software firm discharged 15 workers last month and transferred the work to India. Answer: This is the microeconomic statement because it focuses in an individual Canadian
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ADMS 1010. Exploring the functions of business Section E Chi Kit Yeung Dr. Joel Marcus 212660254 How self-aware are you? I believe a manager should possess 3 basic traits. They are self-awareness‚ curiosity and independency. Let me elaborate more on this. First and foremost‚ in order to manage
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Michelle Broussard Eng 1010 Courtney Schoolmaster 11/17/2012 Crank it up After a twelve-hour work day‚ rushing home to the kids and to cook supper‚ is there ever any time to exercise? The benefits of exercise strongly outweigh the reasons to sit on the couch and eat potato chips. Most of our population is not only obese but out of shape. If a person is five feet four inches and two hundred pounds does not mean they are out of shape. They may not be in their average suggested weight‚ but if
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Biology 1010 8/27/13 Life: * Order: Pine Cone‚ Bacteria – where things are * Regulation: Regulate their internal environment * Maintain homeostasis * Ex. Breath‚ too much CO2‚ changes pH Sends message to brain * Growth and development: Definite pattern to growth and development * Directed by DNA (genetic material where the genes are found) * Energy processing: All organisms must have energy * Humans: Food (Heterotrophs = other-feeding (fungi and
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1.http://www.economics.utoronto.ca/osborne/igt/nash.pdf 2. http://www.columbia.edu/~rs328/NashEquilibrium.pdf c. Is every dominant strategy equilibrium a Nash equilibrium? 1. http://economics.fundamentalfinance.com/game-theory/nash-equilibrium.php d. What do you understand by subgame-perfect equilibrium? 1. http://faculty.apec.umn.edu/thurley/documents/APEC8991/Notes/Fall2010/SubgamePerfectEquilibrium.pdf 2. http://www.cs.tau.ac.il/~canetti/f09-materials/f09-scribe9
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IB/AP Economics Unit 1 Introduction to Economics Introduction to Economics AP and IB Economics Unit 1 Definitions of social science and economics Definitions of microeconomics and macroeconomics Definitions of growth‚ development and sustainable development Positive and normative concepts Ceteris paribus Scarcity • factors of production: land‚ labor‚ capital and management/entrepreneurship • payments to factors of production: rent‚ wages‚ interest‚ profit Choice Utility: basic definition Opportunity
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Chapter -1 1. The study of microeconomics includes the study of - Output and employment growth as markets expand in reaction to a rising price level in the economy. - Business investment and government spending in the marketplace. - The number of new jobs and income created as the economy grows. - How firms‚ workers‚ consumers‚ and investors interact and make decisions in the marketplace. Microeconomics is the study of the behavior of individual economic units: consumers‚ firms‚ workers
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from 200 to 400 pounds? 5. Can you explain why the answers to parts 3. and 4. above are not the same? What does this imply about the slope of the production possibility frontier? --------------------- References: Grading Rubric Microeconomics: Unit 2 Assignment: PPF and Opportunity Costs | Content | Points Possible | Points Earned | Draw production possibility frontier (PPF) | 3 | | Analyze feasible/infeasible production | 2 | | Compute opportunity cost of increasing annual
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