ECON 1000 Final: ECON 1000_Final Exam Winter Spring

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1 Oct 2018
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ECON 1000 Full Course Notes
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ECON 1000 Full Course Notes
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Instructions: this examination consists of seventy (70) multiple choice questions. No penalty for wrong answers: circle your final choice for every question on each page of the exam and carefully mark the letter you have chosen on the computerized answer sheet. Use hb pencil only: time allowed: 120 minutes. (2 hours) Economics 1000 3. 0 m winter j. paschakis: suppose the marginal product of energy is less than the average product of energy. Figure 10. 5: refer to figure 10. 5, which illustrates short-run average and marginal cost curves. Use the figure below to answer the following question(s). lrae. Figure 10. 9: refer to figure 10. 9, which illustrates the long-run average total cost of production when there is an infinite number of plant sizes and output ranges. An individual firm is producing the output at which mc . Figure 11. 5: refer to figure 11. 5, which represents the short-run production decision of a perfectly competitive firm.

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