Câu 1.

A firm is a perfectly competitive producer and sells two goods G1 and G2 at $1000 and $800,
respectively, each. The total cost of producing these goods is given by where Q1 and Q2 denote the
output levels of G1 and G2, respectively. Find the maximum profit and the values of Q1 and Q2 at
which this is achieved.

Đáp án $170 000

Câu 2. Is it possible for a firm to pay each input the value of its marginal product if it operates with
the production function Q = 14K0.6L0.8? The ratio of TC/TR

Đáp án 1.4

Câu 3. A firm’s production function is given by

Q = 2K1/2L1/2
Unit capital and labour costs are $4 and $3 respectively. Find the values of K and L which minimize
total input costs if the firm is contracted to provide 160 units of output.

Đáp án (K/L)=(62,28; 92,38)

Câu 4. A firm faces the production function

Q = 120L + 200K - L2 - 2K2
for positive values of Q. It can buy L at £5 a unit and K at £8 a unit and has a budget of £70.
What is the maximum output it can produce?

Đáp án 1,637.28

Câu 5. The demand equation of a good is

P + Q = 30
and the total cost function is
TC = 1/2Q2 + 6Q + 7
(a) Find the level of output that maximizes total revenue. - 15
(b) Find the level of output that maximizes profit. Calculate MR and MC at this value of Q. What do
you
observe? – 8

Câu 6. A firm is a perfectly competitive producer and sells two goods G1 and G2 at $1000 and $800,
respectively, each. The total cost of producing these goods is given by TC=2Q1^2 +2Q1Q2+ Q2^2
where Q1 and Q2 denote the output levels of G1 and G2, respectively, the value of Q1 and Q2 at
which this is achieved Q1 = 100. Substituting this into either equation (1) or (2) gives Q2 = 300. The
profit function therefore has one stationary point at (100, 300)

Câu 7. The supply and demand equations of a good are given by P= Q+8; and P = 3Q + 80
respectively. The government decides to impose a tax, t, per unit. Find the value of t which
maximizes the government's total tax revenue on the assumption that equilibrium conditions prevail
in the market

ĐÁP ÁN 36

Câu 8. A firm estimates that the total revenue received from the sale of Q goods is given by TR = In(1
+ 1000Q^2). Calculate the marginal revenue when Q = 10?

ĐÁP ÁN 0,2

Câu 9. Given the utility function U = X^1/4*^3/4. Determine the value of the marginal utilities
MU/MX and MU/MY and when X = 100 and Y = 200. Hence estimate the change in utility when X
decreases from 100 to 99 and Y increases from 200 to 2012?
ĐÁP ÁN 0,21

Câu 10. The utility a consumer derives from consuming the two goods A and B can be assumed to be
determined by the utility function U = 40A^0,25x B^0,5 If A costs £4 a unit and B costs £10 a unit and
the consumer's income is £600, what combination of A and B will maximize utility?

ĐÁP ÁN A=50 & B=40

Câu 11. A market has the demand schedule p = 92 - 2q and the supply schedule p= 12+3q. What per-
unit tax will raise the maximum tax revenue for the government? (All prices are in E.) What is per unit
tax will raise the maximum tax revenue for government?

ĐÁP ÁN 40

Câu 12. Suppose a manufacturer's profit from the sale of radios is given by the

function P(0 = 400(15-x)*(x-2) where x is the price at which the radios are sold.

Find the selling price that maximizes profit.

ĐÁP ÁN 8.5

Câu 13. Given the demand function Q = 100 - 2P+ PA + 0.1Y Where P = 10, PA= 12 andY= 1000, find
the income elasticity of demand?

ĐÁP ÁN 0.52

Câu 14. The demand equation of a good is P + Q = 30; and the total cost function is TC=1/2Q^2 + 6Q +
7. Find the level of output that maximizes total revenue?

ĐÁP ÁN 15

Câu 15. A firm operates with the production function: Q= 95*K^0,3 L^0,2 R^0,5 and buy the three
inputs I Land R at prices of 305, 16$ and 12$ respectively per unit. If it can sell its output at a fixed
price at 4$ a unit. How much K. Land R can be used to maximize the profit?

ĐÁP ÁN K=519,3034 L=649,1292 R=1081,8820

Câu 16. Find the equilibrium price and the corresponding number of units supplied and demanded if
the supply function for a certain commodity is S(P) = P^2+3P-70 and the demand function is D(P) =
410 - P.

ĐÁP ÁN P=20 D=390

Câu 17. Given the utility function

U = x1/4 1 x2 ¾ determine the value of the marginal utilities and when x1 = 100 and x2 = 200. Hence
estimate the change in utility when x1 decreases from 100 to 99 and x2 increases from 200 to 201

Đáp án. 0.21

Câu 18. A firm's unit capital and labour costs are $1 and $2 respectively. If the production function Is
given by Q = 4LK + L^2, the levels of K and L at which it is achleved when the total input costs are
fixed at $105

ĐÁP ÁN K=45 L= 30
Câu 19. A firm operates with the production function Q = 4K^0,6 L^0,4 and buys inputs K and Lat
prices per unit of $40 and $15 respectively. What is the cheapest way of producing 600 units of
output?

ĐÁP ÁN K= 119.16268 L= 211.84478 TC = 40(119.16) + 15(211.84) = £7,944

Câu 20: Suppose the demand q and price p for a certain commodity are related by the
linear equation q=240-2p (for 0<P<120). At what price is the elasticity demand equal to -
1? ĐÁP ÁN 60
n a competitive market where the supply price (in £) is p 3 0.25q
and demand price (in £) is p 15 0.75q
the government imposes a per-unit tax of £4. How much of a price rise will this tax mean to
consumers (3)? What will be the tax revenue raised(32)?