Principles of Macroeconomics

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Econ 101: Principles of Economics NAME: Korinna K. Hansen Disc. Section: Practice Quiz 2 Use graphs where necessary, and show your work for the problems below. Be brief, but clear and neat. Make sure that you label all your axes and curves . 1). (6 points) You are given Mary’s and John’s demand for CDs at different CD prices: Price Mary’s John’s
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Unformatted text preview: Per CDQuantity Quantity 30 18 $ 2 25 16 $ 4 20 14 $ 6 15 12 $ 8 10 10 $10 5 8 $12 6 $14 4 $16 2 $18 Graph the aggregate (joint) demand for CDs for Mary and John. 2). (4 points) Use two separate graphs (one for each market) to show what will happen in the markets of coffee, and tea if the price of coffee where to increase....
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