exam 2 ch 9& 10

exam 2 ch 9& 10 - User: Alaa Alakeely In Course: PRIN...

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Grades Worksheets Assignments Practice Tests Quizzes Exams Surveys User : Alaa Alakeely In Course : PRIN ECONOMICS II ( ECN 222W SU810 09 SP) Instructor : Edward T Derbin Your instruc exam. Instructions : You have one hour and 30 minutes to complete your exam. clock is ticking, so plan accordingly. You will have plenty of time to comple Answer Key Question 1 (Worth 5 points) In figure above, when marginal costs are rising, marginal product of labor True This is a correct answer False Points earned on this question : 5 Question 2 (Worth 5 points) In figure above, average variable costs approach average total costs as ou
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are falling. True This is a correct answer False Points earned on this question : 0 Question 3 (Worth 5 points) As a consumer consumes more and more of a good or service in a particu increases. True False This is a correct answer Points earned on this question : 0 Question 4 (Worth 5 points) To be a Giffen good a good must be inferior with an income effect that is la effect. True This is a correct answer False Points earned on this question : 5
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Question 5 (Worth 5 points) When price increases for an inferior good, the income and substitution effe True This is a correct answer False Points earned on this question : 5 Question 6 (Worth 5 points) Economics assumes consumers want to maximize Total utility subject to th True
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This note was uploaded on 05/18/2010 for the course ECON Econ222 taught by Professor E.derbin during the Summer '09 term at Delta MI.

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exam 2 ch 9& 10 - User: Alaa Alakeely In Course: PRIN...

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