Second Midterm Fall 2006

Second Midterm Fall 2006 - UNIVERSITY OF ARIZONA ELLER...

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UNIVERSITY OF ARIZONA ELLER COLLEGE OF MANAGEMENT DEPARTMENT OF ECONOMICS FALL, 2006 PROFESSOR McBREARTY cO iJ i Il)mV 103 INDIVIDUALS SECTION 2 11:00-12:15AM CESL 103 SECOND MID-TERM EXAMINATION (TUESDAY, OCTOBER 24, 2006) (f!J. . IJL £': t R .It E l;;) Name: STUDENT ID# Signature E-mail GENERAL INSTRUCTIONS 1;:URN OFF':ALL CELL PHONES! ) There are 50 Multiple Choice ~uestions on the examination. The total examination is worth 100 points or 25% of the course gr~e. ~". . Print your name, Student ill number, section and E-mail address on both the Questions and the Scantron Answer Sheet. Fill in your answers in the spaces provided on the Scantron Answer Sheet by coloring completely the box for the appropriate letter for the Multiple Choice questions. Make QMk ~ on the Scantron sheet with a No.2, or mechanical pencil. The Questions along with an analysis of your results (but!:!Q! the Scantron Sheet) will be returned to you on Tuesday, ~. SCANTRONINSTRUCTIONS Use #2 Pencil or Mechanical Pencil Enter your student m Number 0 If your sm starts with an "s" substitute "0" 0 Bubble your sm Put down your Last Name, First Name and M.I. 0 Bubble your name Enter the Test Foml based on your exam version Yellow: Foml A Pink: Foml B Enter your e-mail address where it says "Name", followed by the Subject, Date, and Hour (9:30 or 11 :00) Indicate the color of your exam in the middle above where it says, "Parscore Score Sheet" Completely ~ any mistakes Turn in your: 0 Exam Questions 0 Scantron Answer Sheet
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MULTIPLE CHOICE OUESTIONS (Completely color in the most appropriate answer on the Scantron Answer Sheet) Use the following table to answer question 1. Marginal cost of Control Tons Der Day Plant A Plant B 1 $200 $ 900 2 400 1,200 3 600 1,600 4 800 2,100 Suppose Plant A and PlantB are currently emitting 4 tons of pollution each. The Government requires each plant to reduce emissions by two tons and issues two one-ton marketable pollution permits to each plant. Will any permits be traded? X yes, Plant B would be willing to buy two permits from Plant A b. yes, Plant B would be willing to buy one permit from Plant A c. yes, Plant A would be willing to buy two permits from Plant B d. yes, Plant A would be willing to buy one permit from plant B e. both finns' costs of control are so high, no trading will occur 2. A marginal external ~ is: a. the cost imposed on consumers by the production of an additional unit of a product b. the total cost imposed on society by the production of an additional unit of a product )( the cost of producing an additional unit of a product that accrues to a third party who is not involved in producing or consuming the product d. the cost associated with producing an additional unit of a product e. none of the above 3. Which of the following i§ a way economists have suggested
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Second Midterm Fall 2006 - UNIVERSITY OF ARIZONA ELLER...

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