VERSION 1
Name_
ECON 2020 Exam #2
Directions: Read each question and EVERY possible answer VERY carefully.
Select the best answer from the alternatives. Good luck!
Use the following figure to answer questions 1 3.
P
S
$22
$16
$10
D
Q/T
1.
18
50
72
If the
VERSION 1
Name _
ECON 2020 Exam #3
DIRECTIONS: Read each question and EVERY possible answer VERY carefully.
Select the best answer from the alternatives. Good luck!
1.
Which of the following will cause an increase in the long run cost curves?
A. an improv
Name _
ECON 2020 Problem Set #3
CHAPTER 5
1. A producer faces a price elasticity of demand of 1.5 when the price of the good is $15 and the
quantity demanded is 800 units. Find the change in quantity demanded if the producer increases
price by $.30.
2. Me
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