ECO 365 GUIDE Predictable World / eco365guide.com

FOR MORE CLASSES VISIT www.eco365guide.com 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 _______________.

2. Refer to the table shown. The average product when eight workers are employed is _____6____ 3. A resource is said to have a comparative advantage if 4 Refer to the graph shown. Initially, the market is in equilibrium with price equal to $3 and quantity equal to 100. Government imposes a tax on suppliers of $1 per unit. The effect of the tax is to 5Refer to the table shown. Diminishing marginal productivity begins when the 6 Refer to the graph shown. If this monopolistically competitive firm maximizes profit, it will 7 The price of a ticket to a rock concert is set at $35. All the tickets for the concert sell out 1 hour after they go on sale and there are still 1,000 fans who want to buy tickets. It follows that 8 Which of the following statements is true?

9 State what type of business combination is occurring in the following scenario: Samsung and Sony become partners in a flat screen manufacturing company.