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quiz1 - Econ 251 POPUPQUIZI 1 a Labor b Entrepreneurship c...

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Econ 251 September 16, 2009 POP-UP QUIZ I 1. Which of the following is NOT  a factor of production? a. Labor b. Entrepreneurship c. Bonds d. Land 2. We cannot clearly determine whether the new equilibrium quantity is greater than, less  than or equal to the old equilibrium quantity, if 3. You buy more of good X if your income increases. To you good X is a  4. The price of bread has increased by 10% and, as a response to the price increase, the  quantity demanded for bread has decreased by 5%. So we can say – 
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