If Your Cumulative Grade Point Average (GPA) After Two Years

question 170

Essay

If your cumulative Grade Point Average (GPA) after two years of college is 3.0, and your grades for the current semester average 3.5, what will happen to your cumulative GPA? Explain the similarity of this example to the case of marginal cost and average cost.

---

Definitions:

Industry

The economic activity concerned with the production of goods, services, and the extraction of raw materials.

Requirements Contract

An agreement in which one party agrees to purchase all of his or her requirements of a particular product from another party. See also output contract.

Output Contract

An agreement in which a seller agrees to sell “all the goods we manufacture” or “all the crops we produce” to a particular buyer. See also requirements contract.

Valid Contract

A contract that is legally binding and fully enforceable by the court.