Test Version A SEMESTER I EXAMINATIONS Mid-Term Assessment ECON 30110 Microeconomics II Time Allowed: 50 minutes Instructions for Candidates This exam counts for 30% of the Module Grade. All questions carry equal marks. Note there is NO negative marking Correct answer is worth 1 mark. No answer or more than one answer‚ will both receive a 0 mark. Incorrect answer will receive a 0 mark. Attempt all 20 questions. Shade in the box in the appropriate space with
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relationship between machine hours and power cost? 2. Using the high and low points‚ compute a power cost formula. 3. Use the method of least squares to compute a power cost formula. Evaluate the coefficient of determination. 4. Rerun the regression‚ and drop the point (20‚000‚ $26‚000) as an outlier. Compare the results from this regression to those for the regression in Requirement 3. Which is better? SOLUTION: 1. [pic] The overall relationship looks reasonably linear—although the
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1 1 2 3 C Motion I 7 (a) From 1 January 2009 to 10 January 2009‚ the watch runs slower than the actual time by 9 minutes. Therefore‚ when the actual time is 2:00 pm on 10 January 2009‚ the time shown on the watch should be 1:51 pm on 10 January 2009. Practice 1.1 (p. 6) D (a) Possible percentage error 10 −6 = × 100% 24 × 3600 = 1.16 × 10 % 1 (b) = 1 000 000 days 10 −6 –9 It would take 1 000 000 days to be in error by 1 s. (b) Percentage error 9 = × 100% 9 × 24 × 60 = 6.94 × 10–2%
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Microeconomics Homework Problem 1: C(Q) = 100 + 20Q + 15Q^2 + 10Q^3 a) Fixed Cost (doesn’t change depending on output produced) = 100 b) Variable Cost of producing Q = 10 units: 20*10 + 15*10^2 + 10*10^3 = 200 + 1‚500 + 10‚000 = 11‚700 c) Total Cost of producing Q = 10 units: C(10) = 100 + 20*10 + 15*10^2 + 10*10^3 = 11‚800 Alternatively‚ we have Total Costs of Producing Q=10 units = Fixed Costs + Variable Costs of producing Q = 10 units = 100 + 11‚700 = 11‚800 d)
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GRADE 9/9 Lind Chapter 9; Exercise 12 The American Sugar Producers Association wants to estimate the mean yearly sugar consumption. A sample of 16 people reveals the mean yearly consumption to be 60 pounds with a standard deviation of 20 pounds. a. What is the value of the population mean? What is the best estimate of this value? The value of population mean is unknown. The best estimate of this value is the sample mean of 60 pounds. b. Explain why we need to use the t distribution. What assumption
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Seminar 2 Topics Covered: Heckscher-Ohlin Model Part I and II 1. This exercise uses the Heckscher-Ohlin model to predict the direction of trade. Consider the production of hand-made rugs and assembly line robots in Canada and India. Problem 1 Answer a) Which country would you expect to be relatively labor-abundant? Capital-abundant? Why? Labor-abundant: India. Capital-abundant: Canada b) Which industry would you expect to be relatively labor-intensive? Capital-intensive? Why? Handmade
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there is increased awareness of the health effects of smoking‚ severe drought occurs in tobacco producing areas for most of the crop season. Both demand and supply decrease. 2. Determining the cross-price elasticity of demand between two goods (Ch. 3; p. 85-88‚ Class Notes) A. Arc cross-price elasticity‚ given discrete changes in price and quantity demanded Exy = [(Qndx - Qodx)/{(Qndx + Qodx)/2}] / [(Pny - Poy)/{( Pny + Poy)/2}] = [(Qndx - Qodx)/(Qndx + Qodx)] / [(Pny - Poy)/(
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policy in terms of the aggregate demand-aggregate (AD-AS) model. Next‚ some fiscal policy measures that automatically adjust government expenditures and tax revenues when the economy moves through the business cycle phases are examined. Finally‚ problems‚ criticism‚ and complications of government’s fiscal policy are addressed. WHAT’S NEW The full-employment budget discussion has been revised and clarified in a section entitled “Evaluating Fiscal Policy.” Current real-world budget surpluses
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| | |A simple experiment to determine the percentage of oxygen in air |4 | |Chapter 3 Oceans | | |Folding filter paper in fluted form
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Wednesday December 18. 3-5 pm. 2. Where is the final? Recitation Section Instructor Exam Location 201 Mohammadi Cohen G17 202 Mohammadi Cohen G17 203 Law Cohen G17 204 Kantenga Leidy Lab 10 205 Da Silva Cohen G17 206 Da Silva Cohen G17 207 De Albuquerque (Galvao) Stiteler B6 208 Bhatnagar Stiteler B6 209 De Alququerque (Galvao) Stiteler B6 210 Gjorgjevik Leidy Lab 10 211 Gjorgjevik Leidy Lab 10 212 Bhatnagar Stiteler B6 213 Law Cohen G17 214 Zhang
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