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Eco1104-Midterm-Fall04 - ECO 1104A INTRODUCTION TO...

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ECO 1104A INTRODUCTION TO MICROECONOMICS MIDTERM EXAMINATION Professor: David Gray October 25, 2004 INSTRUCTIONS a) The allotted time is one hour and twenty minutes. There are a total of 80 points, with one point per minute. The first part consists of short answer problems, while the second part consists of problems. This examination counts for 25 % of your course grade. b) You may not consult with any written materials whatsoever, including other students' papers, and no conversation is permitted while the examination is in progress. Any contravention of these rules will be treated as an infraction to the honour code of the university. c) With the multiple choice questions, it may not be the case that one answer is obviously correct while the other three are totally wrong. Select the best answer in these cases. You will not be penalised for guessing. d) Good luck. I do not anticipate that you will be pressed for time. Please pace yourself accordingly, and respond carefully. e) All of the questions which follow are very straightforward, and can be answered in a few sentences. The responses that I hope to elicit have been repeated by me several times in class. Please take a minute to concentrate on the question being asked, as opposed to writing down everything which comes to your mind about a certain topic. I have tried to pose the questions in such a way that you focus correctly.
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