Midterm1prac1 - ECON 203 FALL 2009 Intermediate...

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ECON 203 – FALL 2009 Intermediate Microeconomics. Midterm 1 Friday Oct 2 nd , 2009 – 50 Minutes. This Midterm consists of two parts. Part 1 contains three short-answer questions that are worth 5 marks each. Part 2 has two long-answer questions that are worth 18 and 17 marks, respectively. In total you can earn 50 marks, i.e. a minute per mark. Fill out your name and student number before you start. Good luck! Name:……………………………………………………………………………………………. Student Number:………………………………………………………………………………… PART 1: SHORT-ANSWER QUESTIONS (15 marks) The short-answer questions below are worth 5 marks each . Question 1-1 (5 marks) . Computers and Operating System (OS) are the only two goods in the economy. Draw a possible indifference curve for Dan, for whom computers and OS are perfect complements , and also one for Gab, for whom computers and OS are perfect substitutes . [Don’t forget to label your axes]. ANSWER: Chapter 3. Appendix. P100, 101. Question 1-2 (5 marks)
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Midterm1prac1 - ECON 203 FALL 2009 Intermediate...

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