fall 2009 exam 6

fall 2009 exam 6 - ECON 2106 Shelby Frost Exam 3 1:00PM TR...

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ECON 2106 Shelby Frost Exam 3 1:00PM TR Fall 2009 Version A Page 1 Do NOT open your exam until you are told to do so. Turn off your cell phone or any other noise-making devices you have with you. You are taking Version A of the exam. Please mark letter A on your scantron where it reads “Test Form”. When you submit your scantron for grading, you must turn in a signed copy of this page. Failure to do so will result in earnings of $0 for this exam. You may keep the questions for your record of what answers you marked. An answer key will be posted in Ulearn after the exam is over so you can grade your own work. Tear this page off and turn it in when you turn in your scantron; keep the other pages for yourself. Honesty Oath: By signing below, I certify that I have adhered to the GSU Policy on Academic Honesty. The GSU Policy on Academic Honesty includes the following: “B. Cheating on Examinations: Cheating on examinations involves giving or receiving unauthorized help before, during, or after an examination. Examples of unauthorized help include the use of notes, computer based resources, texts, or "crib sheets" during an examination (unless specifically approved by the faculty member), or sharing information with another student during an examination (unless specifically approved by the faculty member). Other examples include intentionally allowing another student to view one's own examination and collaboration before or after an examination if such collaboration is specifically forbidden by the faculty member.” Print name: _____________________ Signature: ___________________________
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Shelby Frost Exam 3 1:00PM TR Fall 2009 Version A Page 3 Name: __________________________ Date: _____________ Multiple Choice: Choose the one alternative that best completes the statement or answers the question. Use the following to answer question 1: Figure: Profit Maximization for a Firm in Monopolistic Competition 1. (Figure: Profit Maximization for a Firm in Monopolistic Competition) Suppose that an innovation reduces a firm's fixed costs and reduces cost from ATC to ATC . Before the innovation reduced the cost, the firm's maximum economic profit was: A) $750. B) $4,500. C) $30. D) $0. 2. _________ is the practice of selling ________ at different prices in different markets, without corresponding differences in costs. A) price fixing; different products C) privatizing; the same product B) price discrimination; the same product D) monopolizing; similar products 3. Monopolistic competitors sell products that are ________ and as a result, each firm has a ________ demand curve. A)
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fall 2009 exam 6 - ECON 2106 Shelby Frost Exam 3 1:00PM TR...

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