Past Exam for ECON 2005 - Principles of Economics with Hilmer at Virginia Tech (VT)

Exam Information

Material Type:Exam 4
Class:ECON 2005 - Principles of Economics
University:Virginia Polytechnic Institute And State University
  • Marginal Revenue Product
  • Provided That
  • Marginal Social Cost
  • Factor of Production
  • None of the Above
  • Individual Demand
  • Price Leader
  • Decrease Increase
  • Calculators
  • Derived Demand
Login / Sign Up to View Document
Preview Page 1Preview Page 2Preview Page 3Preview Page 4Preview Page 5Preview Page 6

Sample Document Text

FormA Econ 2005 Midterm 4 6~X(AVIA 2- t.~;f..{;t""'\ .. S &1o....W/ !.( MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) If the price of the product produced by labor decreases, the marginal revenue product of labor curve will QD shift to the left. B) be unaffected because productivity of labor has not changed. C) become more inelastic. D) shift to the right. E) none of the above. \~rs Mw 'L~J 1-:::- (D'- Ie.. l;'- ? /YJ IO~(?.. Z-~-~ Refer to the information provided in Figure 13.1 below to answer the questions that follow. Below are cost curves for Dom's Barber Shop, a monopolistically competitive firm Figure 13.1 2) Refer to Figure 13.1. The profit-maximizing price for a haircut is A) $14. (B))$16. 'c)$10. D)$12. E) none of the above. 1 FormA Econ 2005 Midterm 4 3) Refer to Figure 13.1. The profit-maximizing number of haircuts for Dom's Barber Shop is _ ___ _ ~25 ~20 C) 23 D)30 ...

Related Documents

Competitive Market Structure Exam
Out of Pocket Costs Exam
Marginal Cost Curve Exam
Average Fixed Costs Exam
Market Failure Notes
Provided That Exam
Increase in Demand Exam
Competitive Market Structure Notes
Decrease Increase Exam
Pizza Slice Exam
Product Differentiation Notes
World Price Exam
Opportunity Exam
Opportunity Exam
Internal Control Exam
Provided That Exam
155, "/var/app/current/tmp/"