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Unformatted text preview: ours) that each puts in for each activity when selling 1000 copies of the “app” for $1 apiece. Mohan Marjorie Writing software (W) 150 80 Answering questions (A) 25 20 3. If Marjorie has 400 hours available to perform these two activities, create a graph of her production possibility frontier. What are the quantities represented by the two endpoints of this graph? a. (80 W, 20 A) b. (150 W, 25 A) c. (2.33 W, 16 A) d. (5 W, 20 A) e. none of the above Midterm One, Economics 101.007, Fall 2011 2 4. Mohan has ________________ advantage in ________________. a. an absolute, writing software b. an absolute, answering questions c. a comparative, writing software d. a comparative, answering questions e. none of the above. 5. Marjorie’s opportunity cost of writing software is a. 20. b. 25. c. 4. d. ¼ e. none of the above 6. Outsourcing is a term increasingly used to connote having __________ produced by _________ workers overseas. a. goods, low‐wage b. goods, aging c. services, low‐wage d. services, aging e. none of the above Note: If you indicated on your exam sheet that both a and c are correct and then gave a as your answer, you received full credit for this question. 7. Two goods are ____________in con...
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This note was uploaded on 02/06/2014 for the course ECONOMICS 101 taught by Professor Byrns during the Spring '09 term at UNC.
- Spring '09