{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Week_3_Lab_Sp11

Week_3_Lab_Sp11 - ECON 2030 Week 3 Suppose Federica a...

Info icon This preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
ECON 2030 Week 3
Image of page 1

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

View Full Document Right Arrow Icon
Suppose Federica, a rational consumer, while strolling down the Via dei Condotti, saw a beautiful Gucci tote in white leather that was priced at €1250, and she purchased it. It can be concluded with certainty that her reservation price for buying the tote was 1 2 3 4 5 6 0% 0% 0% 0% 0% 0% 1. greater than €1250. 2. greater than or equal to €1250. 3. greater than or equal to €0. 4. less than €1250. 5. less than or equal to €0. 6. less than or equal to €1250. 90
Image of page 2
Suppose a new report indicates that yogurt is the new health food, both for the body and the mind. The increase in the market demand resulting from this report will cause a _____ of yogurt which will be eliminated as the price _____, everything else held constant. 1 2 3 4 0% 0% 0% 0% 1. shortage; increases 2. surplus; increases 3. shortage; decreases 4. surplus; decreases 60
Image of page 3

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

View Full Document Right Arrow Icon
Suppose that workers in the pear industry receive wage increases. Which side of the pear market is DIRECTLY affected by this increase?
Image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern