eco 365 final exam set 2 2016 versioneco 365 final exam set 2 2016 version
Written for
13F Slc Cde
ECO 365 Final Exam SET- 2 /ECO 365 Final Exam SET- 2 (ECO365FINALEXAMSET2)
All documents for this subject (1)
Seller
Follow
mastersolution
Reviews received
Content preview
ECO 365 Final Exam SET- 2 (2016 Version)
1. Because you can only obtain more of one good by giving up some of another good, the shape
of a production possibility curve is:
upward sloping.
perfectly vertical.
perfectly horizontal.
downward sloping
2. Refer to the table shown. The average product when eight workers are employed is:
_____6____
Number of workers Total Output
14
2 10
3 18
4 28
5 35
6 41
7 45
8 48
9 50
10 49
3. A resource is said to have a comparative advantage if:
it is equally suited to the production of all goods.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller mastersolution. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $16.49. You're not tied to anything after your purchase.