exam 1 - Name ECO 202 Practice Exam 1 Summer 2016 Use the following to answer questions 1-5 Figure Demand for Coconuts 1(Figure Demand for Coconuts The

exam 1 - Name ECO 202 Practice Exam 1 Summer 2016 Use the...

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Name: __________________________ ____________________________________________ ECO 202 – Practice Exam 1 Summer 2016 Use the following to answer questions 1-5: Figure: Demand for Coconuts 1. (Figure: Demand for Coconuts) The accompanying figure shows the demand for coconuts. If a coconut is a normal good and the price of coconuts increases, then the movement that would take place in the model could be: A) A to B . B) B to A . C) C to A . D) E to B . 2. (Figure: Demand for Coconuts) The accompanying figure shows the demand for coconuts. If fish is a substitute good for coconuts and the price of fish increases, then the movement that would take place in the model could be: A) A to C . B) B to A . C) C to A . D) B to E . Page 1
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3. (Figure: Demand for Coconuts) The accompanying figure shows the demand for coconuts. If coconuts are considered a normal good and the overall income level of consumers is falling, then the movement that would take place in the model could be: A) A to C. B) B to A. C) C to A. D) E to B. 4. (Figure: Demand for Coconuts) The accompanying figure shows the demand for coconuts. If there is an overall increase in taste and preference for coconuts, then the movement that would take place in the model could be: A) A to C. B) B to A. C) C to A. D) B to E.
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  • Fall '15
  • eric
  • Supply And Demand, The Market, notebook computers, accompanying figure

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