ECO204Y1 Final: ECO204Y Final Exam 2013 Spring
Document Summary
This exam consists of 3 questions in 19 pages, single-sided. Please write your name and id # as these appear in rosi. You cannot leave the room during the last 15 minutes of the exam. Please remain seated until the proctor announces that you can leave the room. 204 cupcakes owns and operates shops across the city of two-ronto ( two ) and it is the only company that sells cupcakes in two. All stores are identical and each store has ample capacity. (1. 1) [3 points] the quantity of cupcakes that can be produced at shop per day is given by the production function: Here technological level of shop ; number of workers per day at shop ; number of cash registers per day at shop , and are store-specific parameters. Calculate: the optimal number of workers and cash registers required to process an (exogenously given) target output per day and derive store cost function.
