ECON 171 Midterm: ECON 170B Test 1
Document Summary
Do not begin or turn the page until told to. Please print: you may use pencil instead of pen if you wish, but exams cannot be submitted for re- marking unless you used pen. If you resubmit your test for regrading we reserve the right to regrade the entire test: you must hand in all materials, including paper used for rough work, show all of your work. There is a total of 60 points on this test. You have one hour twenty minutes to finish the quiz. Spring 2001: (13 points) a monopolist faces a demand curve of p= 20 q and has a total cost curve given by. Spring 2001: (22 points) each firm in a duopoly adopts a cournot strategy. The cost functions for these two firms are: The two firms produce a homogeneous product, the demand curve for which is:
