10 sample documents related to ECONOMICS ECON2101

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  Microeconomics_ch2_MC

  HKU ECONOMICS ECON2101
  

  Ch. 2 1. A relationship that shows the quantity of goods that consumers are willing to buy at different prices is the A) elasticity B) market demand curve C) market supply curve D) market equilibrium 2. The law of demand states : A) that price and q
   
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  Microeconomics_ch3_MC

  HKU ECONOMICS ECON2101
  

  Ch. 3 1. Consumer preferences: A) are fixed exogenously and unchanging in reality. B) indicate how a consumer would rank any two possible baskets of goods, taking into account her budget constraint. C) indicate how a consumer would rank any two possi
   
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  Microeconomics_ch4_MC

  HKU ECONOMICS ECON2101
  

  Ch. 4 1. The budget line A) represents the set of all baskets the consumer can afford. B) represents the set of all baskets the consumer can afford while spending all available income. C) represents the set of all baskets that give the consumer the s
   
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  Microeconomics_ch5_MC

  HKU ECONOMICS ECON2101
  

  Ch. 5 1. As the price of a good increases, holding the consumer\'s income and the price of the other good constant, the budget line will A) shift inward toward the origin. B) shift outward away from the origin. C) rotate the budget line inward toward
   
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  Microeconomics_ch6_MC

  HKU ECONOMICS ECON2101
  

  Ch. 6 1. The production function represents A) the quantity of inputs necessary to produce a given level of output. B) the various recipes for producing a given level of output. C) the minimum amounts of labor and capital needed to produce a given le
   
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  Microeconomics_ch7_MC

  HKU ECONOMICS ECON2101
  

  Ch. 7 1. Opportunity cost for a firm is A) Costs that involve a direct monetary outlay B) The sum of the firm\'s implicit costs C) The total of explicit costs that have been incurred in the past D) The value of the next best alternative that is forgon
   
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  Microeconomics_ch8_MC

  HKU ECONOMICS ECON2101
  

  Ch. 8 1. The long-run total cost curve shows A) the various combinations of capital and labor that will produce different levels of output at the same cost. B) the various combinations of capital and labor that will produce the same level of output.
   
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  Microeconomics_ch9_MC

  HKU ECONOMICS ECON2101
  

  Ch. 9 1. Which of the following is not an assumption of a perfectly competitive market? A) Fragmented industry B) Differentiated product C) Perfect information D) Equal access to resources 2. Which of the following is not a characteristic of perfect
   
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  game%20theory%20-%20ch14

  HKU ECONOMICS ECON2101
  

  ECO303: Intermediate Microeconomic Theory (Balak, Spring 2008 Game Theory (ch 14) 1. Game theory refers to A) a plan for the actions that a player in a game will take under every conceivable circumstance that the player might face. B) a situation in
   
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  game%20Theory%20ch14-Answer%20Key

  HKU ECONOMICS ECON2101
  

  ECO303: Intermediate Microeconomic Theory (Balak, Spring 2008 Answer Key 1. D 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. A C C B D B D C A C A