fall 2007 exam 4

# fall 2007 exam 4 - ECON 2106 Shelby Frost Exam 2 1:00pm TR...

This preview shows pages 1–4. Sign up to view the full content.

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

View Full Document
ECON 2106 Shelby Frost Exam 2 1:00pm TR Fall 2007 Version A Page 2 This page is left blank intentionally.
Shelby Frost Exam 2 1:00pm TR Fall 2007 Version A Page 3 Name: __________________________ Date: _____________ 1. Maximization of the total net benefit of an activity occurs when: A) MB < MC . B) MB = MC . C) MB approaches MC. D) MB > MC . 2. Jacquelyn is a student at a major state university. Which of the following is not an example of an explicit cost of her attending college? A) computer lab fees B) tuition C) textbooks D) the salary that she could have earned working full time 3. Average variable cost equals all the following except : A) average total cost minus average fixed cost. B) variable cost times output. C) (total cost fixed cost) divided by output. D) variable cost divided by output. Use the following to answer question 4: Figure: Optimal Quantity 4. (Figure: Optimal Quantity) If the cost of producing lawn mowing increased, the ______ curve in the accompanying figure would shift to the ______ and Felix's total net gain would ______. A)

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

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

## This document was uploaded on 01/19/2011.

### Page1 / 14

fall 2007 exam 4 - ECON 2106 Shelby Frost Exam 2 1:00pm TR...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online