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FREE ECO 365 Final Exam Answers Guide

The ECO 365 Final Exam is a going to knock your socks off. This microeconomics test will fully test your knowledge on  a wide range of topics. We have developed this guide to give you a free resource that will help you prepare for this test.

Here is the first question that is going to stump you on this test:

ECO 365 Final Exam Answer Part 1

After several years of slow economic growth, world demand for petroleum began to rise rapidly in the 1990s. Much of the increase in demand was met by additional supplies from sources outside the Organization of Petroleum Exporting Countries (OPEC). OPEC, during this time, was unable to restrain output among members in its effort to lift oil prices. What best describes these events?

A. The rise in demand shifted the demand for oil to the right. OPEC actions shifted the demand for oil back to the left.
B. The rise in demand shifted the demand for oil to the right. As price rose, the supply of oil also rose.
Correct Answer: C. The rise in demand shifted the demand for oil to the right. As price rose, the quantity of oil supplied rose.
D. The rise in demand reflects a movement down along the demand curve as supply shifted to the right when suppliers produced more oil.

We recently talked to a student and she had a sad story for us. She had just clicked the submit button on the test and the results were not what she expected.

She had failed the ECO 365 final exam. Despite hours of preparation looking through her textbook, she could just not figure out the correct answers on the exam. Many online students face this same sad story. Fortunately, there is help out there that can help you avoid these unnecessary situations. Here is the second question on the test that is likely to give you some problems.

ECO 365 Final Exam Answer Part 2

Owen runs a delivery business and currently employs three drivers. He owns three vans that employees use to make deliveries, but he is considering hiring a fourth driver. If he hires a fourth driver, he can schedule breaks and lunch hours so all three vans are in constant use, allowing him to increase deliveries per day from 60 to 75. This will cost an additional $75 per day to hire the fourth driver. The marginal cost per delivery of increasing output beyond 60 deliveries per day

                 
A. is $0 because Owen does not have to purchase another van
Correct Answer: B. is $5
C. is $75
D. cannot be calculated without knowing Owen's total fixed costs

We hope this free guide to the answers was helpful. Remember to pick up a copy of the full ECO365 final exam answers before you take the test. This proven study guide has helped countless students avoid failing this challenging class.

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