ECON 2105 Study Guide - Midterm Guide: Opportunity Cost, Excess Supply, Pepperoni
Document Summary
Econ 2105 study guide for exam #1 (chapters 2-3 only) Resources allowed during exam: calculator (no cell phones allowed); 4 pages of notes (2 sheets of paper, front and back only). Any use of notes in excess of page allotment will result in confiscation of examination and a grade of 0 awarded. Extra credit paper opportunity: worth 7 points towards exam #1 grade only. See course announcements on tsquare for more information. Will not be accepted late or by email under any circumstances. Name: __________________________ date: ____________: alexander has a straight-line, or linear, production possibility frontier when he produces soybeans and corn. If he uses all of his resources to grow soybeans, he can produce 200 bushels of soybeans; if he uses all of his resources for corn production, he can produce. If this economy is producing on the production possibility frontier, what would allow it to produce at point.
