Econ 1  Second Exam on Production

Econ 1  Second Exam on Production

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Econ 1 Second Exam on Production, Costs and Profits ___ production function ___ constant returns to scale ___ short run ___ sunk cost ___ accounting profit ___ marginal cost A The 100 and 220 meter Olympic races B This has little to do with other investment alternatives. C The price of a beer in contrast to the best seat in the house. D Another way to describe a ship lost at sea. E The kind of information a production engineer is likely to offer. F A party that is typically held after a successful theater performance.
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Unformatted text preview: G With a fixed plant facility this is likely to fall in the early stages of production. H The particular size of the firm doesn t make that much difference when you have this. I A situation where none of the diet plans seem to work J Ignoring this often makes a great deal of economic and common sense. K There are times when you shouldn t worry about all of your costs. L Enron managed to stay in business by messing with this. ******************************************************** 1. You have 35 of the 36 classes needed to graduate and have a GPA or 3.900. Assuming a grading scale of 0 to 4 (F to A). Since you have only one class to take, is there any way for you to raise your GPA?...
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This note was uploaded on 09/18/2011 for the course ECON 1 taught by Professor Fung during the Winter '08 term at University of California, Santa Cruz.

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