Economics 1021A/B Midterm: Economics 1021A B Midterm 2012 Winter Spring

• School: Western University
• Department: Economics
• Course: Economics 1021A/B
• Professor: All

Document Summary

London canada: rivers economics 1021b-001 february 12, 2012. In order to get credit for a question, you must record the correct answer on your. No credit will be given for answers recorded in your question packet: you may have pencils, erasers, your student card, and a non-graphing, non- programmable calculator at your desk. And all scrap paper you have been provided). Choose the one alternative that best completes the statement or answers the question: if harold must decrease production of some other good to increase production of good x, then. Use the table below to answer the following questions. Marginal cost: is the opportunity cost of producing one more unit of a good or service, is always greater than marginal benefit, is unrelated to the production possibilities frontier, remains constant, always equals marginal benefit. V111: which of the following is true regarding marginal benefit, the marginal benefit curve shows the benefit firms receive by producing another unit of a good.