Name:________________________________________________ Student Number:_______________ (First Name) (Last Name) 1 ECONOMICS 1B03 Introductory Microeconomics Spring 2018Test #2 VERSION 2 ANSWERS Instructor: Aleksandra GajicDate: Tuesday, May 29, 2018Time: 9:00am – 10:20amInstructions: This test paper contains 10 pages including the title page and 40 questions. You are respon-sible for ensuring that your copy of the paper is complete. Please bring any discrepancy to the attention of your invigilator. Only the McMaster Standard (Casio - FX991 MS or MS Plus) Calculator may be used. This test paper must be returned along with the scan sheet. Write your name and student number on the test paper and the scan sheet. Bubble in your student number and version on the scan sheet. YOU HAVE 80 MINUTES TO COMPLETE THE TEST.
2 OMR EXAMINATION - STUDENT INSTRUCTIONSNOTE: IT IS YOUR RESPONSIBILITY TO ENSURE THAT THE ANSWER SHEET IS PROPERLY COMPLETED: YOUR EXAMINATION RESULT DEPENDS UPON PROPER ATTENTION TO THESE INSTRUCTIONS. The scanner, which reads the sheets, senses the shaded areas by their non-reflection of light. A heavy mark must be made, completely filling the circular bubble, with a HB pencil. Marks made with a pen or felt-tip marker will NOTbe sensed. Erasures must be through or the scanner may still sense a mark. Do NOTuse correction fluid on the sheets. Do NOTput any unnecessary marks or writing on the sheets. 1.Print your name, student number, course name, section number and the date in the space provided at the top of Side 1 (red side) of the form. 2.Mark your student number in the space provided on the sheet on Side 1 and fill in the corresponding bubbles underneath.3.Mark only ONE choice from the alternatives (1,2,3,4,5, or A,B,C,D,E) provided for each question. If there is a True/False question, enter response of 1 (or A) as True, and 2 (or B) as False. The question number is to the left of the bubbles. Make sure that the number of the question on the scan sheet is the same as the question number on the test paper. 4.Pay particular attention to the Marking Directions on the form. 5.Begin answering questions using the first set of bubbles, marked “1".
3 InstructionsIdentify the choice that best completes the statement or answers the question.The next 7 questions relate to the following market:Market demand is given as QD= 840 – 4PMarket supply is given as QS= 2P - 60Suppose the government implements a tax of $12 on consumers.
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