GIPE entrance 2016

[Shalinee Shrivastava]

[e-mail]

[Shalinee Shrivastava]

I am also a commerce student so basics in economics are pretty clear for me also... I have gupta and kapoor for stats but am not going thru it... but u can send me pdf!!!

[Shalinee Shrivastava]

for other subjects which book u r preferring tell me that also

[Rutvi Sharma]

lemme know once you get the mail. It shows some failure notice.

[Shalinee Shrivastava]

i got your mail..!!!

[abhishek23]

Please mail it to me too. [e-mail]

[Rutvi Sharma]

check mail!

[Rutvi Sharma]

(2) Total cost function of a firm is given below:
TC = 200Q – 9Q2+ .25 Q3
The minimum possible marginal cost is
a) Rs. 92
b) Rs.96
c) Rs.120
d) Rs.126

(3) The demand for spring water is given by P = 1000- Q. Assume that the cost of production
to be zero. What is the equilibrium price for the industry if there are four firms in the
industry?
a) Rs. 800
b) Rs. 200
c) Rs.100
d) Rs.1000


is it q2 (a) and q3(d) for the above?

[Mike]

Answer is 92 for minimum possible marginal cost. Just calculate MC and then differentiate it.

[ahlashi]

the time it takes college students to find parking follows a normal distribution with mean 4.5minutes and standard deviation 1minutes
the cut off time which 75.8% students exceed when trying to fing parking spot is
a)5.3 min
b)4.8min
c)5.2min
d)3.8min

[Rutvi Sharma]

@Mike the third one?

[Rutvi Sharma]

its 4.8

[ahlashi]

@Rutvi can you pls explain

[Rutvi Sharma]

I'm copying this from someone else's answer, here it goes
75.8% "exceed" is the same as 100% - 75.8% = 24.2% do not exceed

P(Z < z*) = 0.242 has a z* = -0.70 from Standard Normal table.

Hence the ans is 5.5 + (-0.70)(1) = 4.8 minutes.

So, 75.8% of students exceed 4.8 minutes.

[Rutvi Sharma]

[Rutvi Sharma]

Answers for section B?
Please!!

[harshdua]

Anybody did the cons surplus ques I was getting 72 as the answer but it was not in the options

[Kajol]

I was also getting 72 as my answer.

On Jun 12, 2016 5:42 PM, "harshdua [via Discussion forum]" <[hidden email]> wrote:

Anybody did the cons surplus ques I was getting 72 as the answer but it was not in the options

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[harshdua]

I didn't mark any option will they consider that I did the calculations on the ques paper

[Kajol]

I also didn't mark.
And they don't consider any calculations done on the question paper. They only consider the answers marked in the omr sheet.

On Jun 12, 2016 6:46 PM, "harshdua [via Discussion forum]" <[hidden email]> wrote:

I didn't mark any option will they consider that I did the calculations on the ques paper

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