1. George sells pepperoni pizzas at $25 per pizza from a stall on the beach.   George’s pays $30 per hour to rent his stall and pays his worker $10 per hour to make and sell the pizzas. The ingredients cost $15 per pizza. These are George’s only costs.

NOTE: The hourly cost function (and table) are costs per hour. Note, however, that the total costs in any given hour depend on the number of pizzas sold that hour. The function and table should therefore only be a function of one variable, Q, the number of pizzas. But it should, of course, take into account any other hourly fixed costs.

1. (3 points) What is George’s (hourly) total cost function?

2. Fill in the following information in the table below:
   1. (3 points) Total (hourly) costs
   2. (3 points) Marginal costs
   3. (3 points) Total (hourly) revenue
   4. (3 points) Marginal revenue

Private Good. In previous assignments, the competitive solution at P=MC = $3 resulted in Q = 7 and TC = $21. Assume the population doubles to six people by adding the same three people as below. (hint: some values are filled in to assist in the calculation.

Competitive Solution: P = MC =$3, Qc = _____, Pc = _____

Total Cost of Production = _____ Total Taxes from each resident = TC/6 = _____

Res. Total Valuation #1a = ___, #2a = ___, #3a = ___#1b = ___, #2b = ___, #3b = ____

Vote (Y or N): #1a = ___, #2a = ___, #3a = ___#1b = ___, #2b = ___, #3b = ____

Impact on Budget = Total Taxes – Total Cost = _____ - _____ = 0

Doubling the population resulted in (more than or less than) doubling of output and (more than or less than) doubling of total cost.

True or False

1) in a population regression model, we assume the errors are independent of each other and normally distributed with constant variance

2) when we apply the ordinary least squares to estimate the slope and intercept of a linear model, the sum of all the residuals can be less than or greater than zero

3) if SSE is near zero in a regression, the statistician will conclude that the proposed model probably has too poor a fit to be useful

Which statement best describes the implied rights and duties of an employer that wishes to terminate an employment relationship without cause? ( under canadian law system)
a. Employers cannot be sued provided they provide two weeks of notice.
b. Employers cannot terminate without just cause.
c. Employers may terminate but must give reasonable notice.
d. Employers may terminate provided they have “near cause” and give reasonable notice.

A political candidate is anxious about the outcome of the election. Complete parts​ (a) and​ (b) below.

a) To have his next survey result produce a 95% confidence interval with a margin of error of no more than 0.034 how many eligible voters are needed in the​ sample?

(b) If the candidate fears that​ he's way behind and needs to save​ money, how many voters are needed if he expects that his percentage among voters p is near 0.25?

A person is both myopic and hyperopic. He can see objects clearly only if they are between 30.5 cmcm and 80.0 cmcm .

Part A

What power of contact lens is required to read at the normal near point of 25 cm?

Express your answer using three significant figures.

Part B

What power of contact lens is required to see a distant oobject clearly?

Express your answer using three significant figures.

Which of these mutational changes do you think will have the greatest deleterious effect on the function of a gene? Explain your answer.

a) insertion of a nucleotide at the end of the coding sequence

b) removal of a single nucleotide near the start of the coding sequence

c) deletion of three consecutive nucleotides in the middle of the coding region

d) deletion of four consecutive nucleotides in the middle of the coding region

e) replacement of one nucleotide by another in the middle of the coding region

You are an audit senior in charge of your first audit and are wrapping up your work. The client's controller, a pretty fussy person, knows you're going to ask for a "representation letter" near the end of the audit which he thinks adds an unnecessary burden on him because he's already overworked. He says he won't comply with your request until you explain why an auditor needs a representation letter for every audit.