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# ps1 - 1 The slope of a linear function is A B C D E The...

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Econ300 first midterm Page 2 of 6 1. The slope of a linear function is A. The average rate of change of the function B. The derivative of the function C. The instantaneous rate of change of the function D. All of the above E. None of the above 2. Suppose you have diminishing marginal utility: each additional dollar is worth a little bit less than the dollar before. Your utility function A. is convex B. has an increasing slope C. is concave D. All of the above E. None of the above 3. The function 2 10 2 4 y xx  is A. Concave B. Convex C. Linear D. All of the above E. None of the above 4. The roots of the equation 2 33 6 0  are A. {0, 2} B. {1, –2} C. {–1, 1} D. {–1, 2} E. None of the above 5. Consider the function 1/2 1/2 2 y KL , where y is output, K is capital and L is labor. A formula for the isoquant is A. /(4 ) Ly K B. 2 Ky L C. D. All of the above E. None of the above

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Econ300 first midterm Page 3 of 6 6. How many local or global maximums does the function below have? x y A. 1 B. 2 C. 3 D. 4 E. None of the above 7. Which function is not continuous on the domain [0, )?
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ps1 - 1 The slope of a linear function is A B C D E The...

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