ECO 550 Final Exam Part 1 & 2 Spring 2016
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ECO 550 Final Exam Part 1 & 2 Spring 2016 ECO 550 Final Exam Part 1 & 2 Spring 20 1
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PART 1 1. Which of the following is not an assumption of the linear breakeven model: a. constant selling price per unit b. decreasing variable cost per unit c. fixed costs are independent of the output level d. a single product (or a constant mix of products) is being produced and sold e. all costs can be classified as fixed or variable 2. Theoretically, in a long-run cost function: a. all inputs are fixed b. all inputs are considered variable c. some inputs are always fixed d. capital and labor...
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ECO 550 Final Exam Part 1 & 2 Spring 2016•ECO 550 Final Exam Part 1 & 2 Spring 2016
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PART 1 1. Which of the following is not an assumption of the linear breakeven model: a. constant selling price per unit b. decreasing variable cost per unit c. fixed costs are independent of the output level d. a single product (or a constant mix of products) is being produced and sold e. all costs can be classified as fixed or variable 2. Theoretically, in a long-run cost function: a. all inputs are fixed b. all inputs are considered variable c. some inputs are always fixed d. capital and labor...