BAM223 Final Exam 2018
BAM223 Final Exam 2018
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BAM223 final exam 2018
- Exam (elaborations) • 36 pages • 2018
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1. An economic ________ is a simplified version of some aspect of economic life used to analyze an economic issue.
a. variable
b. market
c. model
d. trade-off
Scenario 1-2
Suppose a hat manufacturer currently sells 2,000 hats per week and makes a profit of
$5,000 per week. The plant owner observes, “Although the last 300 hats we produced and sold increased our revenue by $1,000 and our costs by $1,100, we are still making an overall profit of $5,000 per week so I think we’re on the right tra...
-
BAM223 Final Exam 2018
- Exam (elaborations) • 36 pages • 2018
-
- $74.49
- + learn more
1. An economic ________ is a simplified version of some aspect of economic life used to analyze an economic issue.
a. variable
b. market
c. model
d. trade-off
Scenario 1-2
Suppose a hat manufacturer currently sells 2,000 hats per week and makes a profit of
$5,000 per week. The plant owner observes, “Although the last 300 hats we produced and sold increased our revenue by $1,000 and our costs by $1,100, we are still making an overall profit of $5,000 per week so I think we’re on the right tra...
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