ECN100 MT1 SS1-09 Parman

ECN100 MT1 SS1-09 Parman - Ecn 100 Intermediate...

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Ecn 100 - Intermediate Microeconomic Theory University of California - Davis August 12, 2009 Instructor: John Parman Midterm 1 You have until 1:50pm to complete this exam. Be certain to put your name, id number and section on both the exam and your scantron sheet and fill in test form A on the scantron. Answer all multiple choice questions on your scantron sheet. Choose the single best answer for each question; if you fill in multiple answers for a question you will be marked wrong. Answer the long answer questions directly on the exam. You must show your work for full credit. Answers may be left as fractions. Please place a box around final answers when appropriate. Good luck! Name: ID Number: Section: SECTION I: MULTIPLE CHOICE (60 points) 1. On a graph with good x on the horizontal axis and good y on the vertical axis, a consumer’s indifference curves will be downward sloping when: (a) Good x is a bad and good y is a good. (b) Good y is a bad and good x is a good. (c) Neither (a) nor (b) is true. (d) Both (a) and (b) are true. 2. On a graph with apples on the horizontal axis and bananas on the vertical axis, an increase in the price of apples will: 3. If salt and pepper are complements and both are normal, ordinary goods, an increase in the price of pepper will:
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