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ECO 304K- PS1 - Economics 304K Spring 2008 Problem Set 1...

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Economics 304K: Spring 2008 Problem Set 1 DUE: Tuesday, JANUARY 29 NAME: _________________________________ I. Multiple Choice (5 points, 1 point each) 1. Which of the following will increase the demand for large automobiles? a. A fall in the price of small automobiles. b. A fall in the price of large automobiles. c. A fall in the price of gasoline. d. A fall in buyers' incomes. e. A fall in consumer preferences for driving large automobiles. 2. Which of the following would result in a change in the quantity demanded? 3. A supply curve will shift with changes in:
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