Econ 281A3 Midterm1_Version1_with_sol_2010 (1)

Econ 281A3 Midterm1_Version1_with_sol_2010 (1) - Econ 281...

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Econ 281 A3, Fall 2010 Instructor: Valentina Galvani September 24 Mid-term Exam I Special Code 1 INSTRUCTIONS: 1. Complete the name, student identification number and special code fields on the general purpose answer sheet. Answer sheets missing any of this information will not be marked. Answer the multiple choice questions on the general purpose answer sheet. There are 7 multiple choice questions, each worth 4 points. 2. There are two open problems. Answer in the space provided after the problem statement. 3. This exam is worth 40 points and you have 45 minutes. 4. Print your name and student identification number in the space below. Student Name (PRINT) ____________________________________ I.D. # _____________________________________ Good luck!
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1. (4 points) Consumers regard Dell computers and Gateway computers as substitutes. With all the rest being equal, if the price of a Dell computer increases, a. the demand for Dell computers increases b. the demand for Gateway computers increases ** c. the quantity demanded of Dell computers increases d. the demand for Gateway computers decreases 2. (4 points) Suppose that due to terrorist attacks, there is more police activity increasing the costs of illegal drug trafficking. Also, suppose that people want to enjoy their lives faster and the demand for illegal drugs increases. As a result, on the illegal drug
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This note was uploaded on 10/04/2011 for the course ECONOMICS 281 taught by Professor Vg during the Spring '09 term at University of Alberta.

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Econ 281A3 Midterm1_Version1_with_sol_2010 (1) - Econ 281...

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