ECON 2300 Study Guide - Midterm Guide: Production Function, Marginal Product, Perfect Competition
8 Jun 2014
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The exam consists of 2 parts: a and b. Part a contains choice and is worth 15 marks. Part b contains no choice and is worth 25 points. You have 80 minutes to complete this exam so, roughly speaking, you have 30 minutes for part a and 50 minutes for part b. Write your answers in the exam booklet that has been supplied to you. Be sure to provide the information requested at the front of the exam booklets. If you answer in pencil, your exam will not be remarked after it is returned to you. Be sure to de ne all relevant terms entering the questions. Include diagrams when they might clarify your answer. Each question is worth 5 marks: suppose two rms agree to merge to become 1 rm. 2. functions for the two rms are currently: c(y1) = y2.
