quiz1_5 - Atılım University Department of Economics Econ...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Atılım University Department of Economics Econ 101.5 / Fall 2006 NAME:____________________ QUIZ # 1 NO:____________ Section:____ Time: 20 minutes 1. By drawing new curve(s) on the provided graphs, show how the following events affect the equilibrium price (PE) and quantity of Good X (QE). (25 p. each) Events P S a) The income of people who like to use good X decreases AND the price of key input increases at the same time. D Q P S b) A decrease in the price of related product that complements Good X D Q 2. By drawing a diagram, show how the following events affect the PPF of Country A, which produces only good X and Y. (25 p. each) Event I: Large number of workers have immigrated to Country A. Event II: A technological advance has increased the output per worker in the good Y industry. 1 ...
View Full Document

This note was uploaded on 12/03/2009 for the course INDUSTRIAL IE 307 taught by Professor Arzuakyüz during the Spring '09 term at Atılım Üniversitesi.

Ask a homework question - tutors are online