spring 2009 exam 1

spring 2009 exam 1 - ECON 2106 Shelby Frost Exam 2 11:00am...

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ECON 2106 Shelby Frost Exam 2 11:00am 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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Shelby Frost Exam 2 11:00am TR Spring 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: Marginal Benefits and Marginal Costs In the figure below, MB represents the additional points on an economics exam for each hour of studying economics and MC represents the loss of points on an accounting test for each hour of studying economics 1. (Figure: Marginal Benefits and Marginal Costs) As shown in the figure, more time spent studying economics adds points to economics scores but subtracts points from accounting scores. At 4 hours of study the student will "maximize" because: A) the difference between total benefits and total costs is maximized. B) MB = MC . C) MB = 20 and MC = 20. D) of all of the above. 2. Pauli's Pizza offers the following prices: one slice for $2, 2 slices for $3.50, 3 slices for $4.50, 4 slices for $5.00. Sal orders 2 slices. From this we know that Sal's marginal benefit from the 2nd slice must be at least ______ while the marginal benefit from the 3rd slice must be less than ______. A)
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spring 2009 exam 1 - ECON 2106 Shelby Frost Exam 2 11:00am...

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