Econ 201 exam questions - Study guides, Class notes & Summaries

ECON 201 FINAL EXAM UNIT 3 — MILESTONE 3 100% PASSED (23 out of 23 questions were answered correctly) WINTER SOLUTION University of Maryland

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ECON 201 - FINAL EXAM (JMU) QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. 4 ways government can react to monopolies - -1. Making monopolized industries more competitive 2. Regulating the behavior of monopolies 3. Turning some private monopolies into public enterprises 4. NOTHING a firm should do what when their P < ATC - -exit a firm should do what when their P < AVC - -shut down a firm should do what when their P > ATC - -enter a firm should do what when their TR < TC - -...

JMU ECON 201 EXAM 1 REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. Which of the following involve a trade off? - -all of these 1. buying a new car 2. going to college 3. watching a football game Saturday afternoon 4. taking a nap Trade-offs are required because wants are unlimited and resources are - -scarce Economics is the study of how - -society manages its scarce resources Which of the following is NOT a factor of production - -money Points on the production possibilities f...