ECON-211_Summer08 - “nu-tun imam -II in.” 5 You are...

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Unformatted text preview: “nu-tun imam -II in.” 5 You are logged in as Marcus MaManner(Logout) MyMootlle b EC0N2117IIIIII53JIT13 b Quizzes ! Final Quiz Summer 2003 D Attempt1 Info Results Preview Edit Time Remaining 1:04:50 Update this Qua This quiz has been loci-(ed so that it is only accessible from certain locations Your computer is not on an allowed subnet As teacher you are allowed to preview anyway Note This quiz is not currently available to your students Preview Final Quiz Summer 2008 Start again Students will see this quiz in a secure window Page' i 2 3 11 5 E 7 El (Next) 1 fl You own The Wizard of Oz on DVD which is a gift sent to you from your grandmother You are at home on holiday and you have no Marks-1 money to go out You decide to watch the DVD for a second time The opportunity cost ofvvatching this DVD forthe second time Choose one answer (3- a is the value ofthe alternative use ofthe time you spend watching the DVD C- b is one-halfthe time otthe DVD. as this is the second time you have watched it. C- c is zero because you did not pay for the DVD. C- d is Zero because you dont have money to go out. 0 e cannot be calculated, more information is needed. 2 5 Refer to the information provided in Table 2.] below to answer the following questions. Marks' 1 Table 2.1 Admin Eve Apples 8 10 Oraflgas 4 5 Refer to Table 21 For Eve, the opportunity cost ofd oranges is Choose one answer C,- a 2 apples. 0 b 4 apples. C) c B apples. 0 d l 5 apples 0 e D 5 apples 3 fl It' Lebanon can produce either ZDD bushels of corn orADD bushels ot'wheat from a given quantity of resources, and Syria. using the same Marks. 1 amount of resources. can produce eilherrlEl bushels of corn or 1UD bushels otwheat, which ofthe followmg statements is We3 Choose one answer Q a Lebanon has a comparative advantage in the production of both corn and wheat O b Syria has a comparative advantage in the production of both corn and Wheat 0 c Lebanon has a comparative advantage in the production of corn 0 d Lebanon has a comparative advantage in the production ofwheat 0 e Syria has a comparative advantage in the production of com 11 15 If population increases, then for diapers Wlii Marks' 1 Choose one answer Q a demandshif‘t to the lefi O b demand. shift to the right 0 c demand. remain unaffected Q d supply. rotate outward C,- e quantity supplied. rotate inward 5 RS Demand curves are derived while holding constant Marks. 1 Choose one answer C,- a income. tastes, and the prices of other goods C,- b only income and tastes. C,- c only tastes and the price of other goods. 0 d income. tastes, and the price ofthe good. 0 e demand curves are drawn ceteris paribus, keeping everything fitted. including price ofthe good Save Withoutsubmitting Submit all andfinish Page: l 2 3 A 5 5 7 B (Next) G) Moodle Docs forthis page MyMoodle b ECON211_IIIIIIS3_IIf13 D Quizzes > Final Quiz Summer 2008 b Attempl1 You are logged ln as Marcus MaMannei(LogouD ECON211_mmEEl_hf18 veg ave tagged m as lecui MiMann!!(Laguu0 Time Remaining 1:03:51 MyMomlle r Ecouzngmmsagmm > Quizzes > Final Quiz Summerzoov r Aflelnpfl [—‘Updfimm mm mm RESUME F'VEMBW Ed“ Thts eetz has been teekeg se that t .s enty aeeesstete hem eenatn \ucattuns Vuurcumpulerts nul en an ahewee sebnet Asleacher yw are auewee te preview anyway Nate Thts getz ts hm euhehtty avaname te ynuv students Preview Final Quiz Summer 2008 Start figam Steeents wtu see time getz m a sen:qu Wmduw Page (Fiat/mus) t 2 3 4 5 E 7 B (Next) a s aetew \S a magramthat shews a mavke‘ {m agncuttmat pveeeets A severe eveught has smfiad the suppty nun/2 tn the lea Quantity Marks ‘ aeteauy sepphee decveased by ‘cunsumev suvplus ehangee by ‘pmducev serptes ehangee by ‘and malfan ravenuas changeepy 7 E :e Quanucy Chuusaune EHSWEV a 1122 C b 1 ‘ A 5‘ 1 ‘ 1 O I: 1 ‘ 3‘ 2‘ 4 o e 2‘ 3t 3t 1. o e «452251 7 e: hthe egmhpnem pnee e1 gasehne ts $2 an FE! gauen ane the gevevnment WHI net anew ml :empameste :havge mere than $1 EIEI per Marks 1 gahen afgasohne.wmch ufthemHuwmgwm happen? Cheese ene answev. o a Demane mest eventeauy decvease se that the mavket mu eeme WW ethbwm at a pnee emuu o b The mavket mu be m ethbnum at a pnee uf$1EIEI o e Seppty meat eeenteauy Incveasa ae that the market Wm eeme mlu ethbrtum at a pnee em an o e Anunpnta vahumng system such as ratlun eeepens mest be esee te vahun the aeanaete sepph et gagehhe o e nene enhe abuve is tree mule tntermahen \S neeeee te steey \Hhera ave subsmutes ur net 5 5 Here: In the Intommuon provided In mm 5.13 below In myst me questions um toMovL. Marks 1 m Jason's Mann: and hungawmam g 100 \ t 5: |: 3 E a 3-? § 3 a a 5 z u Mambath m thuve 5 13 Reterte thuv9613.The slepe loe mgtflerence ewe ts the tatte etthe Cheese ene answev. o a mammal ehhty ettee Dream sandwmhes te the maegtnat ehhty ettee cream eenes o b mammal ehhty ettee cream eenea te the maegtnat uuMy ettee cream sandwmhes o e tetat ehhty ettee cveam eeneste the tetal ehhty ettee cream saneenehes o e tetat uhmy ettze :veam sanemeheste the tetal ehhty ettee cream eenes o e nene enhe abuve 9 5 Assuming that Ietsete ts a hetmat gand‘ ttah themeuat‘s \abnr seppty curve ts backwavd bafldmg‘ then the Marks 1 Cheese ene answev. o a tneeme etteet eetwetghs the subsmulwn eheet at htghev wages o b \ncuma etteet ‘5 law e \ncuma etteet and the seeshtehen etteets ave eeeat e substitulmn Eflect uutwetghs the mtume Eflect at htghevwages o e wuvkevs mu atwaye mazes: \Eisuve regareteee etthenwagee m 5 Use the Intonmuon provtrletl m Table 6.2 below to mtswerme questions Ilmn‘ollow. My“ 1 Tame e 2 Numhetol Technology [Hula 01 Capiml Eululoyees A 16 E E 12 12 C E 20 D 6 24 Heterte'rahte 52 trthe huuvlywaga vats ts m ane the huuvly pnee eteapttat ts 550‘ whtch prududmn teehnetegy sheete be eeteeteev cheese ene answzv a A (7 b B 0 e c 0 e D o e B 0V 0 Savewtthnmsubmmmg SuhmmaH andhmsh Page (Pyeeteee) t 2 3 A 5 e 7 3 (Next) (9 Meeete DUES furthtS page MyMoodle } ECON21LIHI|I537I|H$ } Quiues D Fillnl Quiz SunllllelZDDfl } Aflelnpfl Van are tageaa .n estes MaMannev(LngouQ ECON2117mm537hfiE we“ are Iaaaee rn :5 were“; Mamannuungnuq MyMaerue p EC0N2117IIIIII537 13 b Quines b Final Quiz Summerzmm b Ame:an 1n1e Ream; F'rawewiEdn Tun: Rememmg 1:03:11 Update 1an Gun ana eurz has been lucked ae1ha1 1| ra en1y anuess1b1afrum eenarn1eea1rena Vuur cumputer ra nul an an aHuwed aubne1 Aa1eaeneryau are aHuWed 1e prewaw anyway Note The {11.11215 nor cuvvemw ava1lab1em your mama Preview Final Quiz Summer 2008 31am agarn Sludems w1l1see|hls qmz rn a serum wmduw Page (Prawuus) 1 2 3 4 5 e 7 5 (Next) 11 e1 Rerer to me infolmarion provided in Figure 5.10 below rommwer me questions mar renew. Mavks 1 E a 5 E e :1 ° 60 so 120 LIME D1 labor Frgure 5 1n Refavtu Frgure E 13 Tnemm 1s :uvvenfly’ a1ung15ncu5| CE mire prree ufcapual 15 um. men We prree e1 em 15 oneeee ane anewer a man 0 b 523 0 e 54 a rneelernrrna1e rrern Inre mfurmahun C) e w 57 12 e1 Eeenernre :usm Mavks 1 anaese ane answer a are the appenunny m1 e1 eaeh factur e1 pruduchun mmus any rn1eree1 enarges pare an buvvuwed funds 0 b are equa1 1a1e1al vevenue mmus etunnml: pram or e rnemee bath a nerrrra1ra1e unemrn un rnvesmem and the upperman east e1 eaen Vaclav mpruduuuun a are equa1 tum: erreer Busts a1 nirrng an (aemre e1 pruducuun o e bath a and c are true 13 5 Refer to Ihe “no/marten provided In Table 7.2 below to answer Ihe questions [IL—II follow. 113"“ 1 new: N lIYfAOl E“KKI“g€1"1\M’ TVC MC AVC TIC TC AFC ATC D ICU 1 50 Z 95 3 4667 4 ECU 5 7.70 Refavtu Table 7 2 HShany pmduues {um parra afearnnea her avevage Med finals are cneeae ane answer 0 a 525 O tl 523 o e $4 0 :1 mu 0 e $75 14 s Rerer to me tm‘ommnon provided 1:! We 7.2 below to arrawerxhe quesuons rm: renew. M31“ 1 Tab1e72 Nurmreraz Faningclpmhzr TVC MC AVC TFC TC AFC ATC D 150 1 5K] 2 95 3 4667 4 350 5 270 Rafa! m Table 7 z 11 snerry pmdute; ene parr meamngs‘ hevtuta1var1ab1e mm are oneese ane answer 0 a 5150 o b mu 0 c 550 o a .550 o e 1nde|ermmatefmmlh1smfurmahun 15 5 Refer to Ihe “no/marten provided In Table 7.2 below to answer Ihe questions [IL—II follow. MEWS 1 Tab1272 N Iliuol Eaningmlmuafi TVC MC AVC TFC TC AFC ATC U ICU 1 50 2 95 3 4667 4 ECU 5 170 Relzvtu Table 7 2 Assume that Shevry‘s Earrrnge ie pmducing rn a perveeny :umpemwe market and rne market priee (m a pair u! eamngs 1s sen Tu max1m1ze prams Sherry shuuld pruduce Eavrmgs cneeae ane answer 0 a three para 0 tr five pans e fuur pane o a (we para o e ene parr Savewmhumsuhmmmg SubmnaHandhmsh Page (Prevmus) 1 2 3 4 5 B 7 a (New) (3 Mnmfle Duns mnnra page MyMomlle b EC0N2117IIIIII53JIHS b (luiues > Final Quiz SulnlnerZUDE b Altenlpfl vae are1aaaearn aSMavcuSMaMannev(Lngnu1) ECON21 17mm537hf13 Vvu are mesa rn es Mavws Mamannw [Leeeun EWM rm “"“‘“‘ “““““ M 1:02:40 MyMootlle > Ecouzniuuu53imm > guines > Final Quil Sulunlerlflflfl > Aneurpn [—degrgrmg Gun 1nte Resuhs Preview Edd ans gurz bee been Ieeked se mat 1| 13 any aeeessrme trern eenarn 1eeatrens vbur eemputer rs net an an auewed subnet As teaener veu are a11bwed 1e prevrew anyway Nete Th1s gurz 13 net eurrendv avadable 1e veur students Preview Final Quiz Summer 2008 Stem egern Students wr11 see tnrs gure m a secure wrndew Page (Pvewuus) 1 2 3 A 5 E 7 3 (Next) 1B 5 Rerer re. the data provided in Table m below :0 answer the questions rim follow. MW“ 1 Tab1ea1 q TFC TVC TC MC AVC ATC n 3750 a, :1 ts 50 W W as 1 50 20 7D 20 70 2 ED 30 ED 3 5D 45 95 4 EU 62 112 5 SD 90 140 6 50 132 152 7 ED 1% 236 54 26 57 33 7 l Reterte Tab1e E1 The markelpv1te1s$42 and tbrs firm15pmdut1ngfuur unds eteutput Wbren enbe tenewrng weu1d yuu recemmend te 1h1sfi1m7 Choose one answer 0 a 1ncrease output to seven unrts sathalpt1ce1s1essthan margrna1cdst C) b Redune puce td $17, sd tbat margrna1 cdst wr11 egua1 margmal revenue at4 unrts dtdutput o e Cunlmue preduerng teur unds ufuutpm‘ beeause tbe film 15 ab1e 1e make an ecenernrc prem o, d 1nerease eutput 1e 51x unds setnatnrargrna1eest egua1s rnargrna1 revenue 0 e 1cannet reeernrnend anvtbing 1e tbis firm because the firm rs eperating in tbe snen run ‘17 5 WWW! UHHE ful‘uwmg 1S an Examme UfecunumleS UV $13197 Marks 1 Cheese ene answer Q a Te attract firms In 1eea1e rn ds state‘ the state gevernrnent reduced tbe lax rate 1ba1 bustnesses must pay ends prufils‘ thus 1evverrng tbe cests 1e firms wbe Iecate 1n 1be state 0 b Afltm rncreases ru srze and rs tberetdre ab1etd1dwerrts beatb msurance cdsts because as the srze d1 tbe grdup rnsured mateasea tbe premrum per persdn decreases substantrauv o e As the eernputer 1ndu§11y has expanded the number etpretessienadv trarned cernputerpregramrners nae a15u1ncveaged‘wh1ch nae caused me sa1arres eteernputer pregrammers 1e rncrease C; d As the demand in! :a1cu1a1urs mtreasei the pure uf ca1cu1a|uvs acluaHy {EH 0 e As the firm rnereases tbe number e1 machmes‘ tbe average eest decreases ‘13 5 Refer to the information pmvirled in Figule 3.1 below to answer the questions that foflow. Marks 1 3A 15 . s 13 E 11 1g 9 E 7 E 4 o a 6 9 12 15 17 a Emmi! of wlual Frgure a 1 Reterte Frgure E1 Tbrs farmer‘s fixed cests are cheese ene answer Q a w 0 b 545 o c 54 0 d 513 e 512 19 e: Refer m rhe iniormation provided in Figure 9.3 below to answer the questions that follow. Ma 1'1 S 1 The labor market A Wm an" wage rate MRPL (al Kg) Frgure a 3 Reterte Frgure a 3 The markel wage rs rnrua11y We. andtbe firm 151n111al1y a1Pu1nIA Labm supva decreases fium Sn 1e 51,1Hhe firm dees net ebange tne arneunt e1 eaprtal 1| emp1evs, tbe firm wi11 nreve 1e Pumt te rnavirnrze prems cubeseeneanswer a C b B O c E o d F o e c are 21] 5 Lm‘s Pmatn Chrps rs a pertect1y cdmpetrtrve 11m cuttamw emp1dyrug 3n wntkets The margrna1 revenue pruduct dttbe 3mm wntker rs My“ 1 $7 an per beur The wage rate rs dd mm per beur Tu rncrease pmmsr tbrs firm sbeu1d cheese ene answer Q a decrease emp1evrrrent untr1tlne MPP et1aber egua1s $5 EIEI o b rnerease tne prree utpbtate enrps SD mat ttre rnargrna1 revenue pruduet rnereases 1b 55 00 per bbur o c cdntruue brnug 3n wavkets because the firm earns a surplus d1 $1 an en each vvdmer hued o d rnerease ernp1evment untrl tne MPF’ et1aber egua1s dad an Savawlmnwsubmmmg SL1me a11ahd1lmsh page (prevreus) 1 2 3 A 5 13 7 3 (Next) (3 Meed1e Dues tertnrs page MyMoodle ? EC0N2117IIIIII537IIHB ? Quizzes } Fillal Quiz SuIIIIIIEIZBDB ? Aflelllpfl Ywu are leased u. is Mivcus Memnnsrtbeeeuo ECON21 17mm537hfl E You are Tagged in as Marcus Malldarrnel(Logoul) Time Remaining in.“ 1:02:04 MyMoodle b ECON211_IIII|153_IIf18 > Quizzes > Final Quiz Summer 2008 P Attempt1 Updatethis Qua Info Pesuits Preview 7 Edit This guiz has been iocked so that it is only accessible from certain locations Your computer is not on an aliovved subnet As teacher you are ailowed to preview anyway Note This quiz is not currently available to your students Preview Final Quiz Summer 2008 Start again Students Wili see this quiz in a secure vvindow Page (Previous) 1 2 3 11 5 E 7 El (Next) 21 6 The Package Store hires workers to wrap packages The store selis this service for $5 The marginai revenue product ofthis store's fifth Maggy worker is $50 The marginal product ofthe fifth worker Is Choose one answer Q a 10 packages 0 b indeterminate fromthis information (‘i c 001 package d 1 package e 260 packages 22 6 Custom Made Clothing. a smaii ciothIng manufacturer. can use either a capitairintensive or iaborrintensive technology to produce a MEWS 1 product ifthe price of capitai increases and the price ofiabor remains constant, this firm most likeiy' would Choose one answer Q a switch to the laborrintensive technoiogy O b try to increase the productivity of capitai O c ieave the industry 0 d continue to use the capitairintensive technoiogy and reduce the amount of output produced. 0 e more Information about the production technoiogy Is needed 23 6 The Exciusive Gifi Company has a monopoiy overthe saie of goid huia hoops This company is currentiy seiling 50 gold hula hoops at a price of $6000 each Total costs torthe company are $300000 ofvthch fixed costs are $100.000. You are hired as an economic marks'i consuitant to this company You should advise this monopoiist to Choose one answer Q a produce in the short run and expand capacity in the iong run. 0 b produce In the short run but exit the Industry In the long run ilconditions do not change 0 c shut down in the short run but expand capacity in the long run if conditions do not change 0 d shut down In the short run and exit the industry in the iong run. 0 e produce In the short run but Increase price in the Tang run 24 6 Reier to the information provided in Figure 12.1? beiow to answer tire questions that I‘oiiovb. Marks. 1 $1. 16 in 15 :3 13.00 12.50 - 12 = MC * BOO L000 25100 2,500 Q Numberolcablesubacdbers Figure 12 E Peterto Figure 12.8 lfthe government reguiates Armstrong Cabie so they can earn oniy' a normai return. the price would be set at Choose one answer Q a $1500 to $12 50 c $13 on G d $12 00 0 e $15 00 25 6 A monopoiist vvili not produce Marks: 1 Choose one answer 0 a in the inelastic portion of its demand curve. where marginai revenue Is negative 0 b ilprice Is iess than average total cost but greaterthan average variabie cost 0 c ifmarginai revenUe is declining Q d ifprice is greaterthan average totai cost e ifprofits are negative Save vvilhoutsubmitting Submit ali andfinish Page (Freyious) 1 2 3 :1 6 E 7 El (Next) ® Moodle Docs forthIs page MyMoodle b EC0N2117IllIl1537l1f13 > Quizzes b Final Quiz Summer 2008 b Attempt1 You are Tagged in as Marcus Marldarrner(Logoul) ECON2117mm637hf10 EW44~5 You are lallesa in IsMalwsM:MaMei(La§au0 Time Remaining MyMootlle > ECONZHimlnfiJilifiB b q. 195 > Final Qilil Siiiuiuei 2003 b Attelllpfl lnro Rssulis Preview—Ed“ 1'47 Upolaie inis uuiz This out: nas oeen incked so that ii is only aeoessilsle iiorn certain loeaiions Vour eonnouter is noi on an alloweo suonet As ieaenei you are alloweo io piEViEW anyway Preview Final Quiz Summer 2008 Nols Tnis quiz is not eunenlly avaliabie io yuur siuoenls Sian again Stuoenis W111 see inis quiz in a seeuie Wiride Page (Previous) 1 2 3 4 5 s 7 5 (Next) Malks.1 cnooss one answer Q Dollars 13.00 12.51) 26 5 Rafe: to the information provided in Fligme 12.9 befow to aiiswe: the questions that follow. BOO LODCI 2000 2500 0 Numba—aiaihksiihdbas Figuis i2o Refarm Figure 12 5 ins iyps oi indusiiy ploiuiso is a a patent mnnnpniy 0110059 wile anewer O O O O O Q o inersasino eostinousiiy Q o natural monopoly Q o prom maximilmg mnl’iopniy Q s none olihs abm/E 27 as Fefleci prise diseliminaiion Maiks 1 cnoose one answer Q a. can eliminale lhe oeaoweigni loss to sosieiy oia munupuly Q h. is an aliempi oy munupuilsts io saplure sonsurner surplus as mom 0 o. is snaigino oilieienl pnses io oliiieieni ouyeis Q o. olo all oline above. 0 e E and c as Iqu 28 5 Men ins osmano curve is a duwnward sinplng sliaigni ilns‘ ins slope oilhs marginai revenue cows is Malks 1 cnoose one answer Q a. lhe sarne as ine Siupe oilne oernantl suive Q h. always equai is one Q o. IWiEe as sleep as ine oernano curve. 0 o. hali as sleep as lhe oernano sons 0 e. pUSiiiVE oi neoaiive oepenoino on ouaniiiy oioouseo. 29 xi Reie: to the iiifwmaii'on provided in Table 13.2 below to answer the questions that ioflow MW“ 1 Tabie13 2 8‘5 siiaieg Adveilme Doll‘l Advetlilie A'l; pmht $100miihm1 A‘l; pmfit $7.00 millmn Adreilige E‘spmflt $100mllhim B‘spmfil $50 million A's Sioiiegy Dali'l A's pmflt $50 million A‘s pmflt $75 million Adl'eililte E‘spmflt $Zflflmiihm1 B‘spmfit $75 n’illlml’l Relerio Tabla13 2 Finn A‘s ooininani silaiegy is cnoose one answer Q a to not aovenise Q in dependent on ma Fiinn E ooes Q o to advertise Q o inoeteiminate iiom inis information as no inioinnation is prowoeo on Firm A's risk preieienee an 23 Reier to the inioimation provider! in Figure 13.7 below to answer the qnestions that ioiiow. Maiks 1 Danandalideoatmndlflmforhchtwliigfimlndushy ‘ . Figuie 13 7 a. $1 .060. b. $1 .600. :. $U d. lndeieimlnaie from till; lnfurmailun 9. $1 .200. Relerto Flguie13 7 Firms nave lornneo a canei lithe eanel is maxlmizmg profits, tne :anel‘s profits are ® Moools Doss loiinis page Save wlihuutaubmmlng Suhmliali andllnlsh Page (Previous) 1 2 3 4 5 E 7 :3 (Next) MyMooille b ECON211_liiln§3_lil1B > Quizzes > Final Quiz Siiiiiliiei 2008 > Attelllpfl Vmi are losgso in .sMaieuaMamnnsi(Losou¢) ECON2117mm537hf1B voe ale mood n as Mews MaMannaszoeem Tune Remalnlnfl 1:01:25 MyMoodle » EC0N21LIIIIII537IIHB P Quines } Fillal Quiz SulllnlerZDW D Aflelllpfl Upda‘g‘hm Gun Wu RESUME Pvzwzw Eon Th15 qulZ has been1utked so that 1| 1s on1y aocasfidfle horn eena1n1ooahons Vow computer 15 nul on an auoweo soone1 A5 teachev you ave ahoweo to pvewew anyway We Thie qu1z1s not oonenuy awaname ID you! emoeme Preview Final Quiz Summer 2008 51m ogom smoems W1HSEEIH15 qmz m a serum wmoow Page (pnehooe) 1 2 3 A 5 5 7 5 (Next) 31 5 Refer to the Jnfonnation provided in Figure 13.1 below to answer the questions that tolfow. Below are eoot Emves torDom'e MW 5 1 Barber Shop. a monopolisticahy competitive flnn 16 o 14 .5 12 1o Flgma 131 Refevtu Home 131 WDum‘s BarbevShup1s mammzmg prom 11 1e eannno a pvufit of Choose one aflSWEI Q a 5:350 o Saga 0 o $120 0 d on o e SSEEI 32 At The Specialty Cake move a mononohenoauy oomnemwe firm 1; produomg 2m oeeomeo oahee pay day ano eehno eaoh cake for $12 MEWS 1 At that moouenon 1eve1 ATC 1e 325‘ Avc .e 515‘ AFC 19 m1 and mm MR ano MC are 55 T1119 hnn ehomo Choose one anewev O a meveaee output 1o me pm!“ Where nuee eoua1e mavo1na1oos1 o decrease oolnm «o the pmm where mano1na1eoo1eooa1s avevage eos1 Q o pmdute 22m oahee anowet pay fixad cum; O o cohnhue In produce 2m] cakas‘ as once Is gveatavman AFC 0 e movsasz pHEE tn a11eae1$151o tun/Ev au vaflabls trials 33 5 Refer to the infatuation plow'ded in Figum 13.6 below to answel the questions that follow. Marks 1 DmmuflmlcmflWhflmTWsT—ahm E a : Numdsflkrwwwdtsflmwdw Home 13 5 RBVBHD F1gur213 E NTrulhu‘S Tashms 15 in equihbvium it 15 pmdumng SHKSEVEBHBH Tashins and 52ng each Taghin at 3 mm Uh CHUUSE one anawev O a 50‘ $15 o 211 $5 0 o 50‘ $15 11 Ell MEI e Ell $113 34 A A monopohsnoahy :umpemive firm that i; moumng a1oes wiH ohm oown 1f Marks 1 choose one answer Q a pvica 1e Iese1han mang1na1eoe1 O to mice 15 lassman avavagamad cost t; o puns 1s Ieee1han avenaoenaname coat Q o mammal vwenue ue 1ees1han marouha1 Dual e pnoe1sleso1han mang1na1 revenue 35 5 Marks 1 The game dasmhad below has BANDITA Swerve Not Swexve oeeoooe Emmi: oeeoaaoa Enid): mes Piywfl Pmfi met; 0 Swerve g 0 0 0 10 m oeeoooe Emdm neeoaaoa one). no PAyufl Payoff Puycfi hyaff 3 Not Swerve D 10 0 75 7100 choose one anewen Q a My one Naeh Equihbvium C‘ b No Nash Eqm‘lbvmm Q o Two Nash Ethbna‘ which arE (Swerve Swewe) ano (Nul Swan/2, No1 Swewe) O o Two Nash eomhbno which are(Swerw1NutSweweJandtNutSwen/e‘Swerve) E None uHhE above (A, Save wuhomgubmming SuhmHaH andhmgh Page (pnehooe) 1 2 3 A 5 5 7 5 (Next) ® Mooo1e Does tonne page MyMoodle } EC0N21LIIIIn537IIHB } Quizzes b Fillal QIIiZ SulllnlerZDllfl b Altalllpfl You IVE looeee m as Memos thnnemleoooo ECON21'1_mm53_hflE E-(uiwiu )9 Wu aie Iveeed in asMarcus MaMannevtLuguuo MyMoorlle D ECONZ117IIIIII§3JIHB D Quizzes D Final Quiz SuminerZDOB D Atteluilt1 Info Preview 7 Edit Pesuits Time Remaining 1:01 :06 Update this Qua This guiz has been iosked so that it is oniy assessihie lrom certain locations Your computer is not on an ailowed suhnet As teacher you are allowed to preview anyway Note. This quiz is not surrentiy availahie to your students Preview Final Quiz Summer 2008 Stan again Students will see this quiz in a secure window Page (Previous) ‘i 2 3 4 5 E ? B SE 6 F n d b d b | Marks 1 ort egame escri e eow. é a i.“ Not Swerve Q Choose one answer a Fur Desperado and Eandita “Nut Swerve" dnrninales‘. “Swerve ” O b. For Desperado and Eiandita “Swerve” dominates “Not Swerve.“ O s. For Desperado "Not Swerve“ is dominant for Eiandita “Swerve” is dominant C) d For Desperado “Swerve” is dominant‘ for Eandita "Not Swerve“ is dominant e None oftne above 37 5 Afirm uperaling in a perfeuliy sompetilive environment produces the prufil maximizing quantity sr team The marginal ssst sru:5o i5 Marks 1 MC:1D The last worker hired by the firm has a marginai pruduct siMP:5 What's the wage rate paidtu rite Wsrkerv Choose sne answar 1:; a 5 Q b so 2. son d. 10 L) e. 2 38 6 Marks 1 Fortne game described below‘ “Stadium” wrii be the dominant strategy for both players it: Choose one answer 1:) a S +T >1E||J o h T>2s C) u S<D and T>iDD Q d s:ioo e. None ottne above. 39 d A monopolistisaiiy competitive firm in a iong run eguiiihrium produces 0:2 at ATC=iEL Given the demand function P=iUU—O. how many M firms are in the market? arks 1 Choose one answer Q a. 20 C) h 40 o s 45 1:; d 5o 0 e so 40 as Afirm operating in a perfectiy EDmpEilliVE environment produces the profit maximizing guantity of (1:50 The marginal cost of 0:50 is Marks 1 MC:1U The last worker hired by the firm has a marginai product of MP:5. How many workers does the firm hire? Choose one answer Q a. 5 o b. 5o 0 s EDD 1:; d in 1:) e Cannnl be answered withnul addllinnai Inlurmalinn Save withoulsubmitting Submitall andiinish Page (Previous) ‘i 2 3 4 5 E ? B (D Moodie Does iorthis page MyMoorlle D ECON211_mIn§3_hf1B D Quizzes D Final Quiz Suminer2008 D AttempH You are iwgged ill asMarcus MaManner(Logwulj ECON21 ‘i_mm53_hfi B ...
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This note was uploaded on 03/01/2010 for the course ECON 211 taught by Professor Variousteachers during the Spring '10 term at American University of Beirut.

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ECON-211_Summer08 - “nu-tun imam -II in.” 5 You are...

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