Question 53 reference ref 911 table expected exam

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Question 53Reference: Ref 9­11(Table: Expected Exam Scores from Studying Economics and Accounting)Look at the table Expected Exam Scores from Studying Economics andAccounting. The marginal benefit in terms of your economics score ofspending the first hour studying economics is _____ points.15Correct!Correct!
105200 / 1.5 ptsQuestion 54In making an “either–or” decision:
7/5/2018Exam #1- Chapters 1, 3, 4, 5, 9 (Remotely Proctored): X ECON170-73206 ECON170-73657continue in an activity as long as the marginal cost is greater than the marginalbenefit.You AnsweredYou Answeredorrect Answerorrect Answer
28/292 / 5 ptsQuestion 56Do you agree or disagree with the implementation of the minimum wage law?What factors contribute to your conclusion? Who is positively impacted bythis type of price control, and who is negatively impacted?
4 / 5 ptsQuestion 55Do you think most firms experience increasing, decreasing, or constantmarginal costs? Does the industry, or the type of good/service matter?Explain.
7/5/2018Exam #1- Chapters 1, 3, 4, 5, 9 (Remotely Proctored): X ECON170-73206 ECON170-73657
29/29Quiz Score:69.5out of 100
0 / 5 ptsQuestion 57Explain why total surplus is always maximized at equilibrium. What impactwould a decrease in price have on consumers and producers? Explain.
0 / 5 ptsQuestion 58Explain which direction the below referenced supply or demand curve willshift AND comment on the impact of the shift on equilibrium price andquantity.
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Fall
Professor
Stacey Smith
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Microeconomics, producer, Remotely Proctored, ECON170 73206 ECON170 73657

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