Tehee

ECON 1000 Section C (Micro diminution 2012) Due date: 15 October, 4:00 pm Assignment # 1 Chapters 1 to 7 go bad A -- manifold Choice50 tag (2 mark for individually question) post B -- Short resolves50 marks (10 marks for each question replete out for question 5 which is price 15 marks; 5 marks bonus) Total100 marks Part A: Multiple Choice (25 questions, 2 marks each) Answer on attached answer rag (last page) 1.Mike has fagged $500 buying and repairing an old fishing boat, which he expects to distribute for $800 once the repairs argon get by. He discovers that he unavoidably an supernumerary repair, which will equal $400, in order to polish off the repairs. He can declare the boat as it is this instant for $300. What should he do? |a. |He should cut his losses and take the $300. | |b. |He should never betray something for less than it cost. | |c. |He should complete the repairs and sell the boat. | |d. |It doesnt matter which litigate he takes; the outcome is the aforementioned(prenominal) any way.

| 2.Suppose an economy produces cardinal goods, food and machines. This economy perpetually operates on its production possibilities frontier. cultivation course, it produced 60 units of food and 40 machines. This year it experienced a technological give in its machine-making industry. As a result, this year the society wants to produce 65 units of food and 40 machines. Which of the followers statements is true? |a. |Because the technological show up occurred in the machine-making industry, it will non be possible to append food | | |production without trim back machine production on a lower floor 40. | |b. |Because the technological advance occurred in the machine-making industry,...If you want to get a full essay, order it on our website: Ordercustompaper.com

If you want to get a full essay, wisit our page: write my paper