f09_1000_test1_a_answer

f09_1000_test1_a_answer - AS/ECON1000 D, E ANSWERS 1...

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AS/ECON1000 D, E ANSWERS 1 Version A (PRINT) Term Test #1, 2009 AS/ECON1000 D, E Fall 2009 Cohen Test 1 Multiple Choice Answers Question Version A 1. PRINT Version B 1. PRINT Version C 1. PRINT 1 A B C No marks 2 B D C 3 A B D 4 D A A 5 B A E 6 C B E 7 A E C 8 D B D 9 B C D 10 E B E 11 A C A 12 A A C 13 C C D 14 D D C 15 E C E 16 B B E 17 A C C
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AS/ECON1000 D, E ANSWERS 2 Version A (PRINT) Term Test #1, 2009 PART II Problems (26 marks, about 15 minutes) Answer all parts in the spaces provided. Where required, you must show your calculations to receive credit . Numbers in parentheses in the left margin indicate the marks for each question. 1. Bluesnots and Greengobs are related imaginary goods, but you don’t know how they are related. The demand curve for Bluesnots is: P = 100 – 2 Q D The supply curve for Bluesnots is: P = 10 + 1 Q S where P is the price of a Bluesnot in dollars, Q D is the quantity of Bluesnots demanded and Q S is the quantity of Bluesnots supplied. The Bluesnots market is initially in equilibrium, when the price of Greengobs is $50. Assume there are no changes in ceteris paribus assumptions. (2)
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f09_1000_test1_a_answer - AS/ECON1000 D, E ANSWERS 1...

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