Exam 1 - th unit of X 1 4 2 2 Y 3 2 X 4 4 Y 10 Say the...

Info iconThis preview shows pages 1–8. Sign up to view the full content.

View Full Document Right Arrow Icon
QUIZ REVISION
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Why does the Supply Curve Slope  upwards? Technology 2. Prices and Income  Changes 3.  Opportunity Cost  Rises 4. Marginal Cost Rises 10
Background image of page 2
When a farmer decides to harvest his crop  with the aid of a machine he is answering  _____. 1. The What question. 2. The Whom question. 3. The How question. 4. The Why question. 10
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
You spend $2000 on a 1 week vacation, if you  had stayed at home you would have earned  $1,000 at your job, eaten $100 of your parents  food, and earned $100 shoveling snow; what is  the opportunity cost of the vacation? 1. $1,100 2. $1,200 3. $2,000 4. $3,200 10
Background image of page 4
Given that point A (10, 12) and Point B (12, 8)  what is the opportunity  cost of producing the 11
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 6
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 8
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: th unit of X? 1. 4 2. 2 Y 3. 2 X 4. 4 Y 10 Say the price of X is $2.00 and the price of Y is $1.00; and the price of Y rises, then the relative price of X ___ 1. Falls 2. Rises 3. Remains the same 4. Uncertain 10 The law of supply is illustrated by a …. . 10 1. Movement of the supply curve. 2. Movement of the demand curve, ceteris paribus. 3. Movement along the demand curve. 4. None of the above. Say the demand and supply for Ipods increase then __________ 1. Price falls and Qty rises. 2. Price rises but Qty uncertain. 3. Price uncertain and Qty rises. 4. Price remains the same and Qty rises. 10...
View Full Document

This note was uploaded on 03/29/2011 for the course ECON 1102 taught by Professor Tomczyk during the Spring '09 term at Temple.

Page1 / 8

Exam 1 - th unit of X 1 4 2 2 Y 3 2 X 4 4 Y 10 Say the...

This preview shows document pages 1 - 8. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online