PS05_MC - Pls HAND IN MC via WebCT! ECON1001 Problem Set 5...

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Pls HAND IN MC via WebCT! ECON1001 Problem Set 5 ECON1001: Principles of Microeconomics (Non-major) Problem Set #5 Part I: MC Question (Reference Copy) Release Date: 8 Oct (Mon) Due Date: 5pm, 15 Oct (Mon) (submit in WebCT) Note: You are ONLY allowed to answer this part in the WebCT system. The tutor DOES NOT ACCEPT other ways in handling this MC part. Part II: Short Question Please download Question & Answer sheet of this part from the tutorial website. www.econ.hku.hk/econ1001 Thank you for your cooperation.
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Pls HAND IN MC via WebCT! ECON1001 Problem Set 5 12 3 4 56 7 8 Q (Units/day) P/($ unit) 5 10 15 20 25 30 35 40 Q1. When P=$15, what is the consumer surplus each day? A) $40 B) $75 C) $105 D) $180 E) $0 Q2. When price is $0.75, how many cans of soda will be demanded according to the market demand curve? A) 20 B) 50 C) 70 D) 100
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Pls HAND IN MC via WebCT! ECON1001 Problem Set 5 E) 130 Q3. After prices of beans have been reduced, consumption of beans falls. Why? A) The Sub Effect caused people to substitute noodles and rice for beans.
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This note was uploaded on 10/02/2011 for the course ECON 1001 taught by Professor S.c during the Spring '10 term at HKU.

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PS05_MC - Pls HAND IN MC via WebCT! ECON1001 Problem Set 5...

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