Often there is not enough time to review the entire exam in the PASS workshop

# Often there is not enough time to review the entire

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Often, there is not enough time to review the entire exam in the PASS workshop. Decide which questions you most want to review – the Facilitator may ask students to vote on which questions they want to discuss in detail. Facilitators do not bring copies of the mock exam to the session. Please print out and complete the exam before you attend. Facilitators do not produce or distribute an answer key for mock exams. Facilitators help students to work together to compare and assess the answers they have. If you are not able to attend the PASS workshop, you can work alone or with others in the class. Good Luck writing the Mock Exam! Dates and locations of mock exam take-up: Thursday Oct 10 @ 4:35-5:55pm (ML 402) Tuesday Oct 15 @ 4:05-5:25pm (UC 282)

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Dede Huang ECON 1001 B 1. Consider the linear demand curve: Q D = 28 – 4P. a) Determine the x and y intercepts of this demand curve b) Determine the slope of this demand curve c) Calculate market equilibrium if Q S = 5p – 15 2. PPF for Ben and Jerry: a) Without trade, what is the price of cones (in terms of ice cream) for Ben? What is the price of ice cream (in terms of cones) for Jerry? b) Which producer has an absolute advantage in the production of each good? c) Which producer has a comparative advantage in the production of each good? d) If Ben and Jerry trade with each other, which good would they export? 3. Consider the market for steak. For each of the events listed below, identify which of the determinants of demand or supply is increased or decreased. Then show the effect on the

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