spring 2009 exam 9

spring 2009 exam 9 - ECON 2106 Shelby Frost Exam 2 2:30pm...

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ECON 2106 Shelby Frost Exam 2 2:30pm TR Spring 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 webct 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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ECON 2106 Shelby Frost Exam 2 2:30pm TR Spring 2009 Version A Page 3 Name: __________________________ Date: _____________ Multiple Choice: Choose the one alternative that best completes the statement or answers the question. 1. Zoe's Bakery determines that P < ATC and P > AVC . Zoe should: A) continue to operate as she is making an economic profit. B) raise the price until she has maximized her profits. C) continue to operate even though she is enduring an economic loss. D) shut down immediately as she is enduring an economic loss. 2. The _______ is the amount by which an additional unit of an activity increases its total benefit. A) net benefit B) top benefit C) average benefit D) marginal benefit 3. A university that benefits from lower costs per unit as it grows is an example of: A) scale reduction. C) economies of scale. B) increasing opportunity costs. D) diseconomies of scale. 4. If economic profits exist in perfect competition, in the long run firms will enter because of easy entry, the _______ curve will shift to the right, and _______ in the market will ______. A)
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This note was uploaded on 01/19/2011 for the course ECON 11853 taught by Professor Brianallenhunt during the Spring '10 term at Georgia State.

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spring 2009 exam 9 - ECON 2106 Shelby Frost Exam 2 2:30pm...

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