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problem1 - Problem Set 1 Econ 115a September 17, 2007 The...

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Problem Set 1 Econ 115a September 17, 2007 The rules for problem sets in this course are that [1] you should feel free to discuss the problems with others, but [2] in the end you must write up your own results. This problem set is due Monday, September 24, at the beginning of lecture. No late assign- ments accepted. Problem sets will be due every Monday lecture, except as announced. Note: sections will meet this week, beginning Wednesday, September 19. 1. Give your name, the name of your Teaching Fellow and the time of your assigned section. 2. Define the following terms (a) Change in Quantity Demanded (b) Opportunity Cost (c) Equilibrium (d) Marginal Benefit 3. You have some experience with the market for textbooks. Draw carefully labeled supply and demand graphs showing how the price and quantity of textbooks sold would change if The Yale entering class was particularly large. The financial aid office failed to process many financial aid checks. The state placed a new tax, paid by bookstores, on textbook sales.
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This note was uploaded on 04/08/2008 for the course ECON 115 taught by Professor Stevenberry during the Fall '07 term at Yale.

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problem1 - Problem Set 1 Econ 115a September 17, 2007 The...

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