Midterm%201%20Answers

Midterm%201%20Answers - Midterm 1 (January 25 2008) Answers...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Midterm 1 (January 25 2008) Answers YELLOW version BLUE version 1) D 2) D 3) A 4) C 5) C 6) A 7) C 8) D 9) A 10) C 11) B 12) B 13) C 14) A 15) D 16) C 17) A 18) D 19) C 20) A 21) A 22) C 23) C 24) C 25) D 1) A 2) B 3) B 4) A 5) C 6) B 7) A 8) D 9) C 10) A 11) C 12) C 13) D 14) D 15) C 16) A 17) C 18) C 19) A 20) B 21) A 22) C 23) B 24) A 25) A
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Short Answer Problems 15 points Total 1) Calvin has two exams tomorrow: one in psychology and one in biology. He has a total of four hours available to study. If he doesn’t study psychology he will study biology. The table shows the test scores he will get if he dedicates different hours to studying psychology and biology. He values his scores in these classes equally. Hours Spent Studying Psychology Psychology Score Biology Score 0 65 80 1 77 79 2 86 77 3 89 70 4 91 50 a) What is the scarce resource Calvin is allocating? (1 pt) time b) In words, what is the opportunity cost of studying psychology? (1 pt) points on biology exam c) How many hours should Calvin spend studying psychology? Explain why
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 4

Midterm%201%20Answers - Midterm 1 (January 25 2008) Answers...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online