refer to table 18-7. what is the market price of the final good
Sample test
Multiple Choice
Identify the alphabetic character of the choice that best completes the statement or answers the question.
____ 1. The price elasticity of demand is the ratio of the
| a. | accented change in quantity demanded to the accented change in cost. |
| b. | absolute change in cost to the absolute change in quantity demanded. |
| c. | percentage change in quantity demanded to the percentage change in price. |
| d. | percentage modify in price to the percentage change in quantity demanded. |
____ two. If the elasticity coefficient is v, this ways that
| a. | the percentage change in quantity demanded is five times the percentage alter in price. |
| b. | if quantity demanded fell by one percent, price would autumn by v percent. |
| c. | if price was raised 5 per centum, quantity demanded would fall by 5 per centum. |
| d. | if price was raised v percent, quantity demanded would ascension v percent. |
| e. | none of the above |
____ 3. Price rises from $10 to $16, and the quantity demanded falls from 100 units to 80 units. What is the coefficient of the price elasticity of demand between the two prices?
| a. | 0.22 |
| b. | 0.48 |
| c. | 2.08 |
| d. | 1.00 |
| e. | none of the above |
____ 4. If the percentage alter in quantity demanded is greater than the percentage change in price, need is
| a. | inelastic. |
| b. | unit rubberband. |
| c. | elastic. |
| d. | perfectly inelastic. |
____ 5. Suppose at a price of $4 and at a price of $viii, John purchases 40 units of good Ten. Given this information, we know that
| a. | John'southward entire demand curve for practiced Ten is perfectly rubberband. |
| b. | John's need for adept X is inelastic. |
| c. | John's demand for good X is perfectly inelastic between the prices of $4 and $8. |
| d. | John'southward demand for good X is perfectly elastic betwixt the prices of $four and $8. |
| e. | John's demand for practiced X is unit elastic. |
____ six. If the price of good X falls and the demand for good Ten is unit elastic, then the pct rise in quantity demanded is __________ the percentage fall in price, and total revenue __________.
| a. | greater than; rises |
| b. | less than; falls |
| c. | equal to; remains constant |
| d. | greater than; falls |
| due east. | less than; rises |
____ 7. Those who desire to use college cigarette taxes as a means of reducing smoking would adopt the demand curve for cigarettes to be
| a. | perfectly inelastic. |
| b. | inelastic. |
| c. | unit elastic. |
| d. | slightly rubberband. |
| eastward. | highly elastic. |
____ eight. For a certain practiced, when price rises from $90 to $100, quantity demanded falls from 100,000 to 85,000. The coefficient of price elasticity of demand here is
| a. | 0.65. |
| b. | 0.98. |
| c. | 0.796. |
| d. | 1.54. |
____ ix. The toll elasticity of need is lowest for which of the following goods?
| a. | Toyotas |
| b. | cars |
| c. | Fords |
| d. | Chevrolets |
| e. | Information technology is betwixt a, c, and d. |
Exhibit five-one
____ ten. Refer to Exhibit five-1. The demand curve D1 is
| a. | inelastic. |
| b. | elastic. |
| c. | unit elastic. |
| d. | perfectly elastic. |
| eastward. | perfectly inelastic. |
Showroom five-two
____ eleven. Refer to Exhibit 5-2. The market for good X is initially in equilibrium at $v. The authorities then places a per-unit of measurement revenue enhancement on practiced Ten, every bit shown past the shift of Sone to Due south2. As a consequence, the equilibrium cost
| a. | rises from $5.00 to $6.25. |
| b. | falls from $v.00 to $4.00. |
| c. | remains abiding at $5.00. |
| d. | none of the higher up |
____ 12. Refer to Exhibit 5-ii. The marketplace for good X is initially in equilibrium at $5. The government then places a per-unit tax on good 10, as shown by the shift of South1 to Sii. What is the per-unit of measurement revenue enhancement equal to?
| a. | $i.00 |
| b. | $two.25 |
| c. | $0.25 |
| d. | $four.00 |
| e. | $one.25 |
____ 13. Refer to Showroom 5-2. The market for good X is initially in equilibrium at $five. The government then places a per-unit of measurement tax on good 10, every bit shown by the shift of Southward1 to S2. Approximately what percent of the tax do producers terminate up paying?
| a. | 55 percent |
| b. | 45 percent |
| c. | 70 percent |
| d. | 63 pct |
| east. | 25 percent |
____ 14. Economists Alchian and Demsetz advise that firms are formed when
| a. | the sum of what individuals can produce alone is greater than what they can produce every bit a team. |
| b. | someone wants to earn profits. |
| c. | someone comes up with the idea that customers will buy a new production. |
| d. | the sum of what individuals tin can produce as a team is greater than the sum of what they can produce lone. |
____ xv. The more people involved in team production of a given quantity of output, the __________ the price to whatever 1 person from shirking, and then the __________ the probability of shirking occurring.
| a. | higher; higher |
| b. | higher; lower |
| c. | lower; higher |
| d. | lower; lower |
____ xvi. The easiest style for stockholders to monitor their managers is to
| a. | check the value of their stock in the newspaper. |
| b. | study the records of the corporation to run into how things look. |
| c. | hold a company picnic two or three times a year. |
| d. | nourish the almanac meeting of the stockholders. |
____ 17. A cost of resources used in production for which no bodily monetary payment is made is a(n) __________ toll.
| a. | tacit |
| b. | implicit |
| c. | covert |
| d. | explicit |
____ 18. Five months agone Wilson opened upwards a health club. Which of the following is an implicit price related to the health club?
| a. | Wilson paid $120 for an exterior laundry service to clean the towels used at the society. |
| b. | Wilson paid $100 for the pest control exterminator to spray the health club. |
| c. | Wilson previously worked equally an auditor, earning $3,000 a month. |
| d. | Wilson usually eats four hamburgers a twenty-four hour period, priced at $3 each. |
____ 19. Which of the following statements is false?
| a. | Coin must alter hands before a price tin can exist incurred. |
| b. | No monetary payment takes place when an implicit cost is incurred. |
| c. | Costs may be either explicit costs or implicit costs. |
| d. | Cost implies that a cede has been made. |
____ 20. Consider the following information nigh a business Diane opened last year: price = $4, quantity sold = 12,000; implicit price = $14,000; explicit cost = $xx,000. What was Diane'southward economic turn a profit?
| a. | $28,000 |
| b. | $34,000 |
| c. | $14,000 |
| d. | $42,000 |
____ 21. Which of the post-obit statements is true?
| a. | Explicit costs always equal implicit costs. |
| b. | Cipher economic profit is a smaller dollar figure than normal turn a profit. |
| c. | Zero economic profit is a larger dollar figure than normal profit. |
| d. | Maxim that a firm earned null economic profit is the same equally saying it earned normal turn a profit. |
| e. | none of the above |
____ 22. Joe is the owner-operator of Joe'southward Haircuts Unlimited. Last twelvemonth he earned $100,000 in total revenues and paid $65,000 to his employees and suppliers. During the class of the twelvemonth, he received iii offers to work for other barbers, with the highest offer being $forty,000 per year. What are Joe's implicit costs?
| a. | $105,000 |
| b. | $65,000 |
| c. | $25,000 |
| d. | $40,000 |
| e. | $lx,000 |
____ 23. Joe is the owner-operator of Joe's Haircuts Unlimited. Concluding yr he earned $100,000 in full revenues and paid $65,000 to his employees and suppliers. During the form of the twelvemonth, he received three offers to piece of work for other barbers, with the highest offer existence $40,000 per year. What are Joe'southward economic profits?
| a. | $0 |
| b. | $25,000 |
| c. | -$five,000 |
| d. | $40,000 |
| e. | $35,000 |
____ 24. If a firm earns normal turn a profit, then it has generated revenues
| a. | equal to the sum of implicit and explicit costs. |
| b. | greater than total opportunity costs. |
| c. | sufficient to cover explicit costs, but non implicit costs. |
| d. | sufficient to cover implicit costs, merely not explicit costs. |
____ 25. A fixed input is an input whose quantity
| a. | can be changed as output changes in the short run. |
| b. | cannot be inverse as output changes in the short run. |
| c. | cannot be inverse as output changes in the long run. |
| d. | a and c |
| eastward. | b and c |
____ 26. Average fixed price
| a. | is usually greater at lower levels of output than at higher levels. |
| b. | does not change equally output changes. |
| c. | exists simply in the short run. |
| d. | is commonly greater at college levels of output than at lower levels of output. |
| e. | a and c |
____ 27. Costs that do non modify with output are chosen __________ costs.
| a. | marginal |
| b. | average |
| c. | stock-still |
| d. | variable |
____ 28. Which of the post-obit statements is faux?
| a. | Since (full) fixed costs are abiding as output changes in the short run, it follows that average fixed cost is constant in the brusque run. |
| b. | Marginal price is the cost of producing an boosted unit of output. |
| c. | Changes in variable costs are reflected dollar-for-dollar in changes in total cost. |
| d. | Fixed costs exist in the short run, just non in the long run. |
____ 29. At 200 units of output, full cost is $36,000 and total variable cost is $24,000. What does full fixed price equal at 200 units?
| a. | $38,000 |
| b. | $ten,000 |
| c. | $12,000 |
| d. | $50 |
| e. | none of the above |
____ thirty. "Equally additional units of a variable input are added to a fixed input, eventually the marginal physical product of the variable input will decline." This is a statement of the
| a. | constabulary of supply. |
| b. | average-marginal rule. |
| c. | police of diminishing marginal utility. |
| d. | police force of diminishing marginal returns. |
____ 31. The law of diminishing marginal returns is
| a. | the same as economies of scale. |
| b. | the same as the constabulary of diminishing marginal utility. |
| c. | important for long-run economical assay. |
| d. | relevant to the product of goods, but not services. |
| eastward. | none of the in a higher place |
____ 32. Which of the following curves should one wait at to detect the police force of diminishing marginal returns?
| a. | the boilerplate fixed cost bend |
| b. | the total fixed cost curve |
| c. | the marginal physical product curve |
| d. | the long run average full toll bend |
Exhibit 8-one
| (i) | (two) | (3) | (4) |
| Variable Input | Fixed Input | Quantity of Output | MPP of Variable Input |
| 0 | i | 0 | |
| 1 | one | twenty | A |
| 2 | 1 | 41 | B |
| iii | 1 | 63 | C |
| 4 | 1 | 86 | D |
| 5 | one | 108 | E |
| 6 | one | 129 | F |
____ 33. Refer to Showroom 8-ane. The numbers that become in blanks A and B are, respectively,
| a. | twenty and 22. |
| b. | 0 and 21. |
| c. | twenty and 61. |
| d. | 1 and two. |
| e. | 20 and 21. |
____ 34. Refer to Exhibit 8-1. Diminishing marginal returns set in with the add-on of which unit of measurement of the variable input?
| a. | the fourth |
| b. | the 5th |
| c. | the sixth |
| d. | the 2d |
____ 35. If labor is the variable input, then MC equals
| a. | MPP divided by the wage rate.. |
| b. | average variable (labor) costs divided by MPP. |
| c. | average variable (labor) costs multiplied past MPP. |
| d. | the wage rate divided by MPP. |
| e. | the wage rate multiplied past MPP. |
____ 36. If the average variable toll curve is falling,
| a. | the MC bend must be below it. |
| b. | marginal cost is greater than average variable cost. |
| c. | the MC curve is necessarily falling. |
| d. | the MC curve is necessarily horizontal (neither rising nor falling). |
| e. | the MC curve is necessarily rising. |
____ 37. Which of the post-obit statements is true?
| a. | If the marginal cost curve is above the AFC curve, the AFC curve must be rising. |
| b. | Average total price equals average variable cost minus boilerplate fixed price. |
| c. | As output increases, the average variable cost bend gets closer to the average total cost curve. |
| d. | The AFC curve is horizontal as output increases. |
Exhibit 8-ii
| (1) | (2) | (3) | (4) | (v) |
| Variable Input | Price per Variable Input | Full Fixed Cost | Output | Marginal Cost |
| ane | $x | $100 | xx | |
| two | $10 | $100 | 21 | A |
| three | $10 | $100 | 23 | B |
| 4 | $ten | $100 | 26 | C |
| 5 | $10 | $100 | 28 | D |
____ 38. Refer to Exhibit eight-ii. The dollar amounts that get in blanks C and D are, respectively,
| a. | $10.00 and $one.00. |
| b. | $10.00 and $3.33. |
| c. | $five.00 and $10.00. |
| d. | $x.00 and $10.00. |
| e. | $iii.33 and $five.00. |
____ 39. Refer to Showroom viii-ii. The dollar amounts that get in blanks A and B are, respectively,
| a. | $10.00 and $iii.33. |
| b. | $10.00 and $5.00. |
| c. | $ten.00 and $10.00. |
| d. | $1.00 and $5.00. |
| e. | $two.00 and $10.00. |
| Situation 8-1 |
| Diane'south Donuts will begin selling donuts next week. Diane figures that the ingredients necessary to make donuts volition toll $.05 per donut. She has paid $4,400 for the donut-making machinery and one year's rent. |
____ 40. Refer to Situation 8-l. What will Diane's average variable costs exist if she sells 2,500 donuts?
| a. | $0.038 |
| b. | $0.088 |
| c. | $0.138 |
| d. | $0.050 |
| e. | There is not plenty information to answer the question. |
____ 41. Refer to State of affairs 8-l. What volition Diane's average fixed costs exist if she sells 2,500 donuts in one week and then goes out of business?
| a. | $1.76 |
| b. | $one.81 |
| c. | $i.08 |
| d. | $84.62 |
| due east. | In that location is not enough data to reply the question. |
____ 42. Average variable cost equals
| a. | boilerplate fixed price plus average total price. |
| b. | total variable cost divided by the change in output. |
| c. | total variable price divided by output. |
| d. | toll of the variable input times the quantity of the variable input. |
| eastward. | a and c |
Showroom 8-three
| Variable Input | Fixed Input | Output | Marginal Concrete Product of Variable Input | Fixed Cost | Variable Toll | Marginal Cost |
| (units) | (units) | (units) | (units) | (dollars) | (dollars) | (dollars) |
| 0 | 1 | 0 | $50 | $0 | ||
| 1 | 1 | 10 | A | $50 | $20 | F |
| 2 | ane | 25 | B | $50 | $twoscore | G |
| 3 | 1 | 45 | C | $l | $60 | H |
| four | i | lx | D | $50 | $80 | I |
| 5 | 1 | seventy | East | $l | $100 | J |
____ 43. Refer to Exhibit viii-3. The average fixed cost of producing 20 units of output is
| a. | $5.00. |
| b. | $20.00. |
| c. | $l.00. |
| d. | $2.l. |
| e. | indeterminable with the information given. |
____ 44. Refer to Showroom eight-three. The marginal physical product figures in blanks B and C are, respectively,
| a. | 10 and 15. |
| b. | fifteen and twenty. |
| c. | 20 and 15. |
| d. | 15 and 10. |
| e. | x and ten. |
Exhibit 8-4
____ 45. Refer to Exhibit 8-four. Curve B is a(northward) __________ cost bend.
| a. | marginal |
| b. | average variable |
| c. | average full |
| d. | boilerplate fixed |
____ 46. If explicit costs equal $30,000, implicit costs equal $45,000, and accounting profit equals $23,000, it follows that full acquirement equals __________ and economic profit equals __________.
| a. | $75,000; $17,000 |
| b. | $53,000; -$22,000 |
| c. | $68,000; $25,000 |
| d. | $22,000; -$68,000 |
| due east. | At that place is non enough data given to respond this question. |
____ 47. If AFC is $8 at a quantity of output of 100 units, and ATC is $ix at the aforementioned quantity of output, it follows that
| a. | marginal cost is $10. |
| b. | AVC is $100. |
| c. | total toll is $1,700. |
| d. | marginal toll is $100. |
| e. | none of the above |
____ 48. There is a link between product and toll. Nosotros know this because
| a. | there are two periods of production, the short run and the long run. |
| b. | what happens to MPP directs what happens to MC. |
| c. | average fixed toll continually declines over output. |
| d. | average productivity falls when marginal productivity is below it. |
| e. | none of the in a higher place |
____ 49. Unit of measurement cost refers to
| a. | average variable cost. |
| b. | average stock-still cost. |
| c. | marginal price. |
| d. | average total cost. |
| e. | c or d |
____ 50. In the theory of perfect contest,
| a. | sellers of the product are not influenced by other sellers and therefore take virtually complete control over the production and pricing of their product. |
| b. | buyers of the production may have a preference as to whom they purchase from based on brand loyalty. |
| c. | buyers and sellers of the product know everything that in that location is to know most the product. |
| d. | it tin can be quite expensive for a firm to enter this type of marketplace, just in one case the firm is established, information technology volition be a profitable venture. |
____ 51. Perfectly competitive industries are
| a. | difficult to enter because there are already so many producers in the industry. |
| b. | not specially appealing or bonny to enter because there tend to be so many buyers that information technology is hard to deal with them. |
| c. | relatively like shooting fish in a barrel to enter but not so like shooting fish in a barrel to exit from. |
| d. | a and b |
| e. | none of the higher up |
____ 52. Perfectly competitive firms are price takers for all of the post-obit reasons except that
| a. | each business firm is quite small relative to the total market supply. |
| b. | buyers and sellers take all the necessary information most prices, etc. |
| c. | the product is homogeneous. |
| d. | barriers to exit forcefulness firms to sell at the marketplace price. |
____ 53. The demand curve for a perfectly competitive firm
| a. | is downwards sloping. |
| b. | is upward sloping. |
| c. | is perfectly horizontal. |
| d. | is perfectly vertical. |
| due east. | may be downwards or upward sloping, depending upon the blazon of production offered for sale. |
____ 54. In the theory of perfect competition,
| a. | the marketplace need curve is horizontal. |
| b. | the unmarried firm's need curve is horizontal. |
| c. | the single house'due south demand curve is downward sloping. |
| d. | a and b |
| e. | a and c |
____ 55. The price at which a perfectly competitive firm sells its product is determined by
| a. | the individual seller based on his costs of production and his profit margin. |
| b. | all sellers and buyers of the production, collectively. |
| c. | the buyers of the production, because there are so many sellers that they cannot concur on a price. |
| d. | the government, because there are so many buyers and sellers of the product that together they cannot concur on the toll. |
____ 56. Marginal acquirement is
| a. | full acquirement divided by the quantity of output. |
| b. | full turn a profit minus total costs. |
| c. | the modify in total output brought about past using an additional unit of a variable input. |
| d. | the change in total revenue brought about by selling an additional unit of the good. |
| east. | the change in full revenue minus the change in total costs. |
Exhibit 9-1
| (ane) | (2) | (3) |
| Toll | Quantity Sold | Marginal Revenue |
| $12 | 100 | |
| $12 | 101 | A |
| $12 | 102 | B |
| $12 | 103 | C |
| $12 | 104 | D |
____ 57. Refer to Exhibit 9-i. The dollar amounts that go in blanks A and B are, respectively,
| a. | $1 and $12. |
| b. | $12 and $12. |
| c. | $12 and $10. |
| d. | $12 and $11. |
____ 58. Refer to Exhibit 9-i. The data are relevant to a perfectly competitive business firm because
| a. | its full acquirement is different at unlike levels of quantities sold. |
| b. | its marginal revenue is the same at all quantities sold. |
| c. | it must lower price to sell additional units of its product. |
| d. | marginal acquirement is greater than price. |
____ 59. If, for the last unit of a adept produced past a perfectly competitive firm, MR > MC, then in producing that unit the business firm
| a. | added more to total costs than information technology added to full acquirement. |
| b. | added more than to full revenue than it added to total costs. |
| c. | added an equal amount to both total revenue and full costs. |
| d. | maximized profits or minimized losses. |
Exhibit 9-2
____ sixty. Refer to Exhibit 9-2. If the business firm produces the quantity of output at which marginal acquirement (MR) equals marginal cost (MC), is it guaranteed maximum profit or minimized loss?
| a. | Yes, when MR = MC, it follows that MR - MC = 0, and thus the firm maximizes profit and minimizes losses. |
| b. | No, at the quantity of output at which MR = MC, it could be the example that average variable cost is greater than price and the business firm would do better to close down. |
| c. | Yeah, when the firm produces the quantity at which MR = MC, it has maximized both acquirement and profit. |
| d. | Aye, considering if the MC bend is rising, the average total price curve always lies below it and thus profit is earned. |
Exhibit nine-iii
| (1) | (2) | (iii) |
| Price | Quantity Sold | Total Cost |
| $10 | 40 | $374 |
| $10 | 41 | $376 |
| $10 | 42 | $380 |
| $ten | 43 | $385 |
| $10 | 44 | $390 |
| $10 | 45 | $400 |
| $10 | 46 | $412 |
| $10 | 47 | $425 |
____ 61. Refer to Showroom 9-3. What quantity of output would the profit-maximizing house produce?
| a. | 41 units |
| b. | 42 units |
| c. | 43 units |
| d. | 45 units |
| east. | none of the above |
____ 62. Consider the following data: equilibrium price = $ten, quantity of output produced = 100 units, average total cost = $viii, and average variable toll = $7. What will the firm do and why?
| a. | Shut down in the short run, considering it is taking a loss of $200. |
| b. | Proceed to produce in the brusk run, because price is greater than average variable price. |
| c. | Shut downwards in the curt run, considering average variable cost is less than average total toll. |
| d. | Continue to produce in the short run, because firms are always stuck with having to produce in the short run. |
____ 63. Consider the post-obit data: equilibrium toll = $7.50, quantity of output produced = 100 units, average total cost = $nine, and average variable cost = $eight. What will the firm do and why?
| a. | Shut downward in the brusque run, considering price is beneath average variable toll. |
| b. | Shut down in the short run, because it will be taking a loss of $50. |
| c. | Continue to produce in the short run, because toll is greater than boilerplate variable price. |
| d. | Continue to produce in the short run, considering firms are always stuck with having to produce in the brusque run. |
| e. | none of the above |
Exhibit nine-4
____ 64. Refer to Exhibit ix-4. The firm sells its product at P1 and produces Q1. Given this situation,
| a. | total variable cost is equal to areas 1 + 2. |
| b. | full acquirement is equal to area 1. |
| c. | full cost is equal to areas 2 + 3. |
| d. | a and b |
| e. | a, b, and c |
____ 65. Refer to Exhibit 9-4. Where tin can you notice the everyman cost that will motivate the house to produce Qone in the short run?
| a. | at the horizontal line running to "ATC" |
| b. | at the horizontal line running to "AVC" |
| c. | Pone |
| d. | $0 |
____ 66. Assume the following for a certain industry: (l) there is no incentive for firms to enter or exit the industry; (two) for some firms in the industry, brusk-run average total cost is greater than long-run boilerplate total cost at the level of output where marginal revenue equals marginal toll; (3) all firms in the industry are currently producing the quantity of output at which marginal acquirement equals marginal cost. Is the industry in long-run competitive equilibrium?
| a. | Yep. |
| b. | No, because of number 2. |
| c. | No, considering of numbers 2 and iii. |
| d. | No, because of numbers one and 2. |
| e. | No, because of numbers 1, two, and 3. |
____ 67. If the perfectly competitive firm is producing an output level at which toll equals marginal cost, it is
| a. | earning profits. |
| b. | taking losses. |
| c. | earning normal turn a profit. |
| d. | There is not enough information to answer the question. |
Sample exam
Answer Department
MULTIPLE Pick
i. ANS: C DIF: Easy
ii. ANS: A DIF: Moderate
3. ANS: B DIF: Moderate NOT: NEW
iv. ANS: C DIF: Moderate
5. ANS: C DIF: Moderate
half dozen. ANS: C DIF: Moderate
vii. ANS: Eastward DIF: Piece of cake
viii. ANS: D DIF: Moderate Not: NEW
9. ANS: B DIF: Moderate
10. ANS: D DIF: Easy
eleven. ANS: A DIF: Moderate
12. ANS: B DIF: Moderate
13. ANS: B DIF: Difficult
fourteen. ANS: D DIF: Moderate
15. ANS: C DIF: Easy
16. ANS: A DIF: Moderate
17. ANS: B DIF: Easy
xviii. ANS: C DIF: Like shooting fish in a barrel
xix. ANS: A DIF: Moderate
20. ANS: C DIF: Moderate
21. ANS: D DIF: Moderate
22. ANS: D DIF: Moderate
23. ANS: C DIF: Moderate
24. ANS: A DIF: Moderate
25. ANS: B DIF: Moderate
26. ANS: Due east DIF: Moderate
27. ANS: C DIF: Like shooting fish in a barrel
28. ANS: A DIF: Moderate
29. ANS: C DIF: Moderate Non: NEW
xxx. ANS: D DIF: Moderate
31. ANS: E DIF: Moderate
32. ANS: C DIF: Moderate
33. ANS: E DIF: Moderate
34. ANS: B DIF: Moderate
35. ANS: D DIF: Moderate
36. ANS: A DIF: Difficult
37. ANS: C DIF: Moderate
38. ANS: Eastward DIF: Hard
39. ANS: B DIF: Hard
40. ANS: D DIF: Moderate
41. ANS: A DIF: Moderate
42. ANS: C DIF: Moderate
43. ANS: D DIF: Moderate
44. ANS: B DIF: Moderate
45. ANS: C DIF: Moderate
46. ANS: B DIF: Hard
47. ANS: Eastward DIF: Difficult
48. ANS: B DIF: Moderate
49. ANS: D DIF: Moderate
50. ANS: C DIF: Moderate
51. ANS: E DIF: Moderate
52. ANS: D DIF: Moderate
53. ANS: C DIF: Moderate
54. ANS: B DIF: Moderate
55. ANS: B DIF: Moderate
56. ANS: D DIF: Piece of cake
57. ANS: B DIF: Moderate
58. ANS: B DIF: Moderate
59. ANS: B DIF: Moderate
threescore. ANS: B DIF: Hard
61. ANS: D DIF: Moderate
62. ANS: B DIF: Moderate
63. ANS: A DIF: Moderate
64. ANS: D DIF: Difficult
65. ANS: B DIF: Hard
66. ANS: B DIF: Hard
67. ANS: D DIF: Moderate
peltierthenizeena.blogspot.com
Source: https://public.csusm.edu/rarnold/Fall%202005/Econ%20250/sample%20test%202.htm
0 Response to "refer to table 18-7. what is the market price of the final good"
Post a Comment