7 MCQs on micro-economics-sp 53 2015

7 MCQs on micro-economics-sp 53 2015 - 7 MCQs on...

Info icon This preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
7 MCQs on micro-economics
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Focus Factors that shift the demand curve, e.g., income, taste, related goods, expected price, Factors that shift the supply curve, e.g., Input price, Technology Price elasticity if price Price ceiling: condition and outcome of a binding price ceiling Calculate marginal cost, average cost Perfect competition- short-run and long-run
Image of page 2
Supply & demand When the price of aviation fuel increases , which curve of airline tickets will be influenced and how? (aviation fuel is the input of airline service). Quantity 下下 supply curve shifts to left
Image of page 3

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Supply & demand When the coffee beans and coffee makers are complements , what will happen if the coffee beans’ price decrease? A , coffee makers’ demand curve shifts to the right B, coffee makers’ demand curve shifts to the left C, coffee makers’ supply curve shifts to the left D, coffee makers’ supply curve shifts to the right.
Image of page 4
Supply & demand
Image of page 5

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern