Ch1 Quiz - AnswersSaved Your answers will be saved but the assessment will not be submitted Click Ok to finish the assessment later or Cancel to

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Click Ok to finish the assessment later or Cancel to continue taking the assessment. 1. The marginal cost curve is: A)  upsloping because of increasing marginal opportunity costs. B) upsloping because successive units of a specific product yield less and less extra utility. C) downsloping because of increasing marginal opportunity costs. D) downsloping because successive units of a specific product yield less and less extra utility. 2.   Refer to the above diagram. Which line(s) show(s) a negative relationship between x and y? A) A only. B) both A and D. C) A, B, and D. D) both C and E. 3. Economic theories: A) are useless because they are not based on laboratory experimentation. B) that are true for individual economic units are never true for the economy as a whole. C) are generalizations based on a careful observation of facts.
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This note was uploaded on 01/30/2011 for the course ECO 218 taught by Professor Dr.rhibidaoud during the Winter '10 term at Sinclair CC.

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Ch1 Quiz - AnswersSaved Your answers will be saved but the assessment will not be submitted Click Ok to finish the assessment later or Cancel to

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