ECON 1000 Study Guide - Midterm Guide: Scantron Corporation, Demand Curve, Root Mean Square

• School: York University
• Department: Economics
• Course: ECON 1000
• Professor: All

Document Summary

Faculty of liberal arts and professional studies department of economics. Test #1 version a: make sure to print your name, student number and sign the sheet above. All questions are multiple choice format: for multiple choice answers, no work needs to be shown. The full marks will be granted if the best answer is circled and zero otherwise: good luck! Econ 1000a - s1 2015 - test 1 - version a. Choose the one alternative that best completes the statement or answers the question. 1: ted chooses to study for his economics exam instead of going to the concert. The concert he will miss is ted"s ________ of studying for the exam: discretionary cost, monetary cost, absolute cost, comparative cost, opportunity cost. Use the gure below to answer the following question. Figure 2. 1. 6: figure 2. 1. 6 shows the production possibilities frontier for a rm that produces pet food. Point a is ________ and point b is ________.