ECO 100 Spring 2010 1st Midterm Exam Dr.
Ver A RED
Answer all of the folliwng M/C questions by indicating
your one correct choice according to instructions with a
No. 2 pencil on the accompanying scantron form.
1. Scarcity in economics means
Name: _ Date: _
Use the following to answer question 1:
Figure: Marginal Decision Rule
1. (Figure: Marginal Decision Rule) To maximize economic profit, this firm should
produce quantity _ where _ = _.
A) q1; MR; MC
B) q2; price; MC
C) q2; MR; TR
D) q1; TR
a. b. c. d. e.
whylawpartnerscanseldomagreeonthedivisionofcosts why,inademocracy,thepreferencesofthetypicalvoteroftenwilldominateotherchoices whydemocraciescanevolveintodictatorships electionsinwhichcandidatespresent