426_problems2_spr10

426_problems2_spr10 - ECON 426 Sample Questions for Second...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
ECON 426 Sample Questions for Second Midterm True/False/Uncertain . For each question, answer “True” or “False” or “Uncertain” and explain your answer. Use graphs if necessary. On the midterms, if you do not provide an explanation, you will not receive any credit. (1) If a regulator sets a price cap between the monopoly price and perfectly competitive price, total welfare in a market will increase. (2) Natural gas price controls during the late 1970s hurt producers at the expense of consumers, but did improve economic efficiency. (3) The California electricity market from 1998-2000 was perfectly competitive. The skyrocketing prices in 2000 resulted from natural forces of supply and demand. Natural Gas Deregulation . In the 1960s, the federal government regulated the prices of natural gas wellheads. The regulated prices depended upon whether the well was discovered before January 1, 1961 (“old gas”) or after January 1, 1961 (“new gas”).
Background image of page 1

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

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/13/2012 for the course ECON 426 taught by Professor Puller during the Fall '08 term at Texas A&M.

Page1 / 2

426_problems2_spr10 - ECON 426 Sample Questions for Second...

This preview shows document pages 1 - 2. Sign up to view the full document.

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