Eco 365 final exa Study guides, Class notes & Summaries

ECO 365 Final Exam Which of the following statements is true about a downward-sloping demand curve that is a straight line? The slope remains the same, but elasticity falls as you move down the demand curve. The slope and the elasticity fall as you move down the demand curve. The slope remains the same, but elasticity rises as you move down the demand curve. The slope and elasticity are the same at all points. The best example of positive externality is: Roller coaster rides Pollution...

ECO 365 Final Exam

ECO 365 FINAL EXAM 2017 1. During the winter break, Sam decides to go for a skiing vacation in Aspen instead of taking piano lessons. The opportunity cost of the skiing vacation is the: cost of accommodation and food in Aspen. value of piano lessons. cost of buying a piano. amount paid to the skiing instructor. 2. Which of the following is an example of a negative externality? Smith reducing the consumption of imported wine following an increase in the price of imported wine Phoebe refusing to ...

1). The DeBeers company is a profit-maximizing monopolist that exercises monopoly power in the distribution of diamonds. If the company earns positive economic profits this year, the price of diamonds will: Exceed the marginal cost of diamonds but equal to the average total cost of diamonds. Exceed both the marginal cost and the average total cost of diamonds. Be equal to the marginal cost of diamonds. Be equal to the average total cost of diamonds. 2). Using 100 workers an...

1. During the winter break, Sam decides to go for a skiing vacation in Aspen instead of taking piano lessons. The opportunity cost of the skiing vacation is the: cost of accommodation and food in Aspen. value of piano lessons. cost of buying a piano. amount paid to the skiing instructor. 2. Which of the following is an example of a negative externality? Smith reducing the consumption of imported wine following an increase in the price of imported wine Phoebe refusing to contribute to the buildi...

1). The DeBeers company is a profit-maximizing monopolist that exercises monopoly power in the distribution of diamonds. If the company earns positive economic profits this year, the price of diamonds will: Exceed the marginal cost of diamonds but equal to the average total cost of diamonds. Exceed both the marginal cost and the average total cost of diamonds. Be equal to the marginal cost of diamonds. Be equal to the average total cost of diamonds. 2). Using 100 workers an...