Question 1

A firm has a long-run cost function,C(q)=4q2 + 4.In the long run,this firm will supply a positive amount of output,as long as the price is greater than

Accepted Answer

A)  $8. 
B)  $4. 
C)  $24. 
D)  $16. 
E)  $13. 
A)  $8. 
B)  $4. 
C)  $24. 
D)  $16. 
E)  $13. A

Question 2

A firm has a long-run cost function,C(q)=8q2 + 72.In the long run,this firm will supply a positive amount of output,as long as the price is greater than

Accepted Answer

A)  $48. 
B)  $104. 
C)  $96. 
D)  $24. 
E)  $53. 
A)  $48. 
B)  $104. 
C)  $96. 
D)  $24. 
E)  $53. A

Question 3

A firm has a long-run cost function,C(q)=9q2 + 9.In the long run,this firm will supply a positive amount of output,as long as the price is greater than

Accepted Answer

A)  $36. 
B)  $44. 
C)  $9. 
D)  $18. 
E)  $23. 
A)  $36. 
B)  $44. 
C)  $9. 
D)  $18. 
E)  $23. D

Question 4

A firm has a long-run cost function,C(q)=3q2 + 108.In the long run,this firm will supply a positive amount of output,as long as the price is greater than

Accepted Answer

A)  $72. 
B)  $80. 
C)  $36. 
D)  $18. 
E)  $41. 
A)  $72. 
B)  $80. 
C)  $36. 
D)  $18. 
E)  $41.

Question 5

In Problem 9,suppose that Irma's production function is f(x1,x2)=(min{x1,3x2})1/2.If the price of factor 1 is w1= $3 and the price of factor 2 is w2= $9,then her supply function is given by the equation

Accepted Answer

A)  S(p)=p(min{w1,3w2})2. 
B)  S(p)=6p. 
C)  S(p)= p/12. 
D)  S(p)=p(max{w1,3w2})2. 
E)  S(p)= min{3p,27p}. 
A)  S(p)=p(min{w1,3w2})2. 
B)  S(p)=6p. 
C)  S(p)= p/12. 
D)  S(p)=p(max{w1,3w2})2. 
E)  S(p)= min{3p,27p}.

Question 6

Suppose that Dent Carr's long-run total cost of repairing s cars per week is c(s)=2s2 + 50.If the price he receives for repairing a car is $8,then in the long run,how many cars will he fix per week if he maximize profits?

Accepted Answer

A)  2 
B)  0 
C)  4 
D)  3 
E)  6 
A)  2 
B)  0 
C)  4 
D)  3 
E)  6

Question 7

In Problem 9,suppose that Irma's production function is f(x1,x2)=(min{x1,2x2})1/2.If the price of factor 1 is w1 = $3 and the price of factor 2 is w2 = $6,then her supply function is given by the equation

Accepted Answer

A)  S(p)=6p. 
B)  S(p)= p/12. 
C)  S(p)=p(min{w1,2w2})2. 
D)  S(p)=p(max{w1,2w2})2. 
E)  S(p)=min{3p,12p}. 
A)  S(p)=6p. 
B)  S(p)= p/12. 
C)  S(p)=p(min{w1,2w2})2. 
D)  S(p)=p(max{w1,2w2})2. 
E)  S(p)=min{3p,12p}.

Question 8

In Problem 9,suppose that Irma's production function is f(x1,x2)=(min{x1,3x2})1/2.If the price of factor 1 is w1 =$5 and the price of factor 2 is w2 = $15,then her supply function is given by the equation

Accepted Answer

A)  S(p)=p(max{w1,3w2})2. 
B)  S(p)=p(min{w1,3w2})2. 
C)  S(p)= 10p. 
D)  S(p)=p/20. 
E)  S(p)=min{5p,45p}. 
A)  S(p)=p(max{w1,3w2})2. 
B)  S(p)=p(min{w1,3w2})2. 
C)  S(p)= 10p. 
D)  S(p)=p/20. 
E)  S(p)=min{5p,45p}.

Question 9

Suppose that Dent Carr's long-run total cost of repairing s cars per week is c(s)= 3s2 +75.If the price he receives for repairing a car is $36,then in the long run,how many cars will he fix per week if he maximize profits?

Accepted Answer

A)  0 
B)  12 
C)  9 
D)  6 
E)  18 
A)  0 
B)  12 
C)  9 
D)  6 
E)  18

Question 10

Suppose that Dent Carr's long-run total cost of repairing s cars per week is c(s)= 3s2 +108.If the price he receives for repairing a car is $24,then in the long run,how many cars will he fix per week if he maximize profits?

Accepted Answer

A)  0 
B)  4 
C)  6 
D)  8 
E)  12 
A)  0 
B)  4 
C)  6 
D)  8 
E)  12

Question 11

In Problem 9,suppose that Irma's production function is f(x1,x2)=(min{x1,3x2})1/2.If the price of factor 1 is w1 = $2 and the price of factor 2 is w2 = $6,then her supply function is given by the equation

Accepted Answer

A)  S(p)=p(max{w1,3w2})2. 
B)  S(p)=4p. 
C)  S(p)=p(min{w1,3w2})2. 
D)  S(p)=p/8. 
E)  S(p)=min{2p,18p}. 
A)  S(p)=p(max{w1,3w2})2. 
B)  S(p)=4p. 
C)  S(p)=p(min{w1,3w2})2. 
D)  S(p)=p/8. 
E)  S(p)=min{2p,18p}.

Question 12

A firm has a long-run cost function,C(q)=8q2 +288.In the long run,this firm will supply a positive amount of output,as long as the price is greater than

Accepted Answer

A)  $200. 
B)  $192. 
C)  $96. 
D)  $48. 
E)  $101. 
A)  $200. 
B)  $192. 
C)  $96. 
D)  $48. 
E)  $101.

Question 13

Suppose that Dent Carr's long-run total cost of repairing s cars per week is c(s)= 2s2 + 18.If the price he receives for repairing a car is $8,then in the long run,how many cars will he fix per week if he maximize profits?

Accepted Answer

A)  4 
B)  0 
C)  3 
D)  2 
E)  6 
A)  4 
B)  0 
C)  3 
D)  2 
E)  6

Question 14

In Problem 9,suppose that Irma's production function is f(x1,x2)=(min{x1,3x2})1/2.If the price of factor 1 is w1 = $2 and the price of factor 2 is w2 = $15,then her supply function is given by the equation

Accepted Answer

A)  S(p)= p/14. 
B)  S(p)=p(max{w1,3w2})2. 
C)  S(p)=p(min{w1,3w2})2. 
D)  S(p)= 7p. 
E)  S(p)=min{2p,45p}. 
A)  S(p)= p/14. 
B)  S(p)=p(max{w1,3w2})2. 
C)  S(p)=p(min{w1,3w2})2. 
D)  S(p)= 7p. 
E)  S(p)=min{2p,45p}.

Question 15

Suppose that Dent Carr's long-run total cost of repairing s cars per week is c(s)= 3s2 + 108.If the price he receives for repairing a car is $24,then in the long run,how many cars will he fix per week if he maximize profits?

Accepted Answer

A)  0 
B)  8 
C)  4 
D)  6 
E)  12 
A)  0 
B)  8 
C)  4 
D)  6 
E)  12

Exam 23:Firm Supply-Part B

A firm has a long-run cost function,C(q)=4q2 + 4.In the long run,this firm will supply a positive amount of output,as long as the price is greater than

A firm has a long-run cost function,C(q)=8q2 + 72.In the long run,this firm will supply a positive amount of output,as long as the price is greater than

A firm has a long-run cost function,C(q)=9q2 + 9.In the long run,this firm will supply a positive amount of output,as long as the price is greater than

A firm has a long-run cost function,C(q)=3q2 + 108.In the long run,this firm will supply a positive amount of output,as long as the price is greater than

In Problem 9,suppose that Irma's production function is f(x1,x2)=(min{x1,3x2})1/2.If the price of factor 1 is w1= $3 and the price of factor 2 is w2= $9,then her supply function is given by the equation

Suppose that Dent Carr's long-run total cost of repairing s cars per week is c(s)=2s2 + 50.If the price he receives for repairing a car is $8,then in the long run,how many cars will he fix per week if he maximize profits?

In Problem 9,suppose that Irma's production function is f(x1,x2)=(min{x1,2x2})1/2.If the price of factor 1 is w1 = $3 and the price of factor 2 is w2 = $6,then her supply function is given by the equation

In Problem 9,suppose that Irma's production function is f(x1,x2)=(min{x1,3x2})1/2.If the price of factor 1 is w1 =$5 and the price of factor 2 is w2 = $15,then her supply function is given by the equation

Suppose that Dent Carr's long-run total cost of repairing s cars per week is c(s)= 3s2 +75.If the price he receives for repairing a car is $36,then in the long run,how many cars will he fix per week if he maximize profits?

Suppose that Dent Carr's long-run total cost of repairing s cars per week is c(s)= 3s2 +108.If the price he receives for repairing a car is $24,then in the long run,how many cars will he fix per week if he maximize profits?

In Problem 9,suppose that Irma's production function is f(x1,x2)=(min{x1,3x2})1/2.If the price of factor 1 is w1 = $2 and the price of factor 2 is w2 = $6,then her supply function is given by the equation

A firm has a long-run cost function,C(q)=8q2 +288.In the long run,this firm will supply a positive amount of output,as long as the price is greater than

Suppose that Dent Carr's long-run total cost of repairing s cars per week is c(s)= 2s2 + 18.If the price he receives for repairing a car is $8,then in the long run,how many cars will he fix per week if he maximize profits?

In Problem 9,suppose that Irma's production function is f(x1,x2)=(min{x1,3x2})1/2.If the price of factor 1 is w1 = $2 and the price of factor 2 is w2 = $15,then her supply function is given by the equation

Suppose that Dent Carr's long-run total cost of repairing s cars per week is c(s)= 3s2 + 108.If the price he receives for repairing a car is $24,then in the long run,how many cars will he fix per week if he maximize profits?

Demand-Part A

Revealed Preference-Part A

Revealed Preference-Part B

Slutsky Equation-Part A

Slutsky Equation-Part B

Buying and Selling-Part A

Buying and Selling-Part B

Intertemporal Choice-Part A

Intertemporal Choice-Part B

Asset Markets-Part A

Asset Markets-Part B

Uncertainty-Part A

Uncertainty-Part B

Risky Assets-Part A

Risky Assets-Part B

Consumers Surplus-Part A

Consumers Surplus-Part B

Market Demand-Part A

Market Demand-Part B

Equilibrium-Part A

Equilibrium-Part B

Auctions-Part A

Auctions-Part B

Technology-Part A

Technology-Part B

Profit Maximization-Part A

Profit Maximization-Part B

Cost Minimization-Part A

Cost Minimization-Part B

Cost Curves-Part A

Cost Curves-Part B

Firm Supply-Part A

Industry Supply-Part A

Industry Supply-Part B

Monopoly-Part A

Monopoly-Part B

Monopoly Behavior-Part A

Monopoly Behavior-Part B

Factor Markets-Part A

Factor Markets-Part B

Oligopoly-Part A

Oligopoly-Part B

Game Theory-Part A

Game Theory-Part B

Game Applications-Part A

Game Applications-Part B

Behavioral Economics-Part A

Exchange-Part A

Exchange-Part B

Production-Part A

Production-Part B

Welfare-Part A

Welfare-Part B

Externalities-Part A

Externalities-Part B

Information Technology-Part A

Information Technology-Part B

Public Goods-Part A

Public Goods-Part B

Asymmetric Information-Part A

Asymmetric Information-Part B

Filters

A firm has a long-run cost function,C(q)=4q² + 4.In the long run,this firm will supply a positive amount of output,as long as the price is greater than

A firm has a long-run cost function,C(q)=8q² + 72.In the long run,this firm will supply a positive amount of output,as long as the price is greater than

A firm has a long-run cost function,C(q)=9q² + 9.In the long run,this firm will supply a positive amount of output,as long as the price is greater than

A firm has a long-run cost function,C(q)=3q² + 108.In the long run,this firm will supply a positive amount of output,as long as the price is greater than

In Problem 9,suppose that Irma's production function is f(x₁,x₂)=(min{x₁,3x₂})^1/2.If the price of factor 1 is w₁= $3 and the price of factor 2 is w₂= $9,then her supply function is given by the equation

Suppose that Dent Carr's long-run total cost of repairing s cars per week is c(s)=2s² + 50.If the price he receives for repairing a car is $8,then in the long run,how many cars will he fix per week if he maximize profits?

In Problem 9,suppose that Irma's production function is f(x₁,x₂)=(min{x₁,2x₂})^1/2.If the price of factor 1 is w₁ = $3 and the price of factor 2 is w₂ = $6,then her supply function is given by the equation

In Problem 9,suppose that Irma's production function is f(x₁,x₂)=(min{x₁,3x₂})^1/2.If the price of factor 1 is w₁ =$5 and the price of factor 2 is w₂ = $15,then her supply function is given by the equation

Suppose that Dent Carr's long-run total cost of repairing s cars per week is c(s)= 3s² +75.If the price he receives for repairing a car is $36,then in the long run,how many cars will he fix per week if he maximize profits?

Suppose that Dent Carr's long-run total cost of repairing s cars per week is c(s)= 3s² +108.If the price he receives for repairing a car is $24,then in the long run,how many cars will he fix per week if he maximize profits?

In Problem 9,suppose that Irma's production function is f(x₁,x₂)=(min{x₁,3x₂})^1/2.If the price of factor 1 is w₁ = $2 and the price of factor 2 is w₂ = $6,then her supply function is given by the equation

A firm has a long-run cost function,C(q)=8q² +288.In the long run,this firm will supply a positive amount of output,as long as the price is greater than

Suppose that Dent Carr's long-run total cost of repairing s cars per week is c(s)= 2s² + 18.If the price he receives for repairing a car is $8,then in the long run,how many cars will he fix per week if he maximize profits?

In Problem 9,suppose that Irma's production function is f(x₁,x₂)=(min{x₁,3x₂})^1/2.If the price of factor 1 is w₁ = $2 and the price of factor 2 is w₂ = $15,then her supply function is given by the equation

Suppose that Dent Carr's long-run total cost of repairing s cars per week is c(s)= 3s² + 108.If the price he receives for repairing a car is $24,then in the long run,how many cars will he fix per week if he maximize profits?