ECO200Y1 Midterm: ECO200Y1 Term Test 3 2014 Winter
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ECO200Y1 Full Course Notes
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There are 5 questions of unequal value: yes or no, competitive theory of the firm, tt"s cinema pricing, the blue and green firms, mom"s clever game, multiple choice. Be sure to show all steps in your work for a full grade. Yes or no (10 marks) (10) for each of the statements below, indicate if you agree (yes) or disagree (no). Eco200, we call this recipe a constant returns to scale production function. b) (from sample tests) you have bought a front row seat at a rock concert for. You could sell it on e-bay for ,000. Fancy ones (with a colourful label) and the regular ones (with a dull label). The price for fancy peas is higher than the price for regular peas, even though they both have the same nutritional value and are in the same size of can. Mike is using the eco 200 concept of third degree price discrimination.
