ECON 101 Midterm: ECON 101 Iowa State Exam231(1) Solution
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Instructions: fill in all requested information above and on the answer sheet, there are 25 multiple choice questions and one problem. Enter the one best answer for each multiple choice question on the answer sheet. On the answer sheet, completely darken the letter representing your choice for each question. Do the problem on the test paper itself: please note that this test is to be only our own work. You are not to give help to nor receive help from any other person during the test. Note that in hal"s case the long-run and short-run marginal cost curves happen to be identical, as do the lr and sr average total cost curves. Midterm ii--practice exam #2: at an output level of 100 units, a firm calculates its sr average total cost at per unit and its sr average avoidable cost at per unit. Thus, the firm"s (total) sunk cost is a.
