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Practice Midterm #2 1) Consider the following production function. Suppose that capital is fixed at 1. Q K L L.4.0523 For what values of Q is marginal cost increasing? For what values of Q is marginal cost decreasing? 2) Suppose that you have the following production process: y k l.4.8. Math 251: Midterm 2 31 March 2021 5. (10 points) An open faced metal box with a square bottom is to be constructed satisfying with the following con-straints: 1. The volume is 1200 cm2. The bottom is made of silver costing 6 dollars per square centimeter, and the sides are made of copper costing 2 dollars per square centimeter. Math 22A UC Davis, Winter 2011 Prof. Dan Romik Midterm Exam 2 Solutions 1. For each of the following matrices, determine if it is invertible, and if it is, nd.
Midterm exam 2 covers material from the beginning of the course, with a focus on:
The exam tests your conceptual, mathematical and graphical understanding of the material covered in this portion of the course.
Please review the content from the units covered before attempting the exam. The summary notes below are concise outlines of the main points covered in each session, but are presented only as a study aid in reviewing for the exam. They do not provide the in-depth knowledge needed to successfully complete the exam problems.
Once you are comfortable with the course content, complete the following practice exams. These exams are from Professor William Wheaton's course site, 14.01 Principles of Microeconomics, Fall 2007, and are used with permission.
Exam Problems and Solutions
The exam should be completed in 2 hours. This is a closed book exam. You are not allowed to use notes, equation sheets, books or any other aids.
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Midterm 2 Exam
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