1. _ If the price of a complement decreases, all else equal,
a.
b.
c.
d.
e.
quantity demanded will decrease.
quantity supplied will decrease.
demand will increase.
demand will decrease.
supply will in
Chapter 7 Production cost
I. Production function
II. Short-run costs
III. Production and costs in the long run
Production function
What does a production function show?
- Shows the relationship betwee
Chapter 6 Markets, maximizers and efficiency
I. Logic of maximizing behavior for Consumers
and firms as maximizers and the marginal
decision rule
II. Consumer surplus, producer surplus, net
benefit an
University of Illinois Department of Economics
Econ 103 Fall 2014
Exercise 1
TA: Zheng Zhang
1. Opportunity cost can be best defined as:
A the value of the best alternative given up when making a choi
Colleges and Universities
School
Amherst
Barnard
Bates
Berkeley
Bowdoin
Brown
Bryn Mawr
Cal Tech
Carleton
Carnegie Mellon
Claremont McKenna
Colby
Colgate
Columbia
Cornell
Davisdson
Duke
Georgetown
Gri
Assignment 4
Due: Thursday, November 7th at the beginning of the Lecture
1) Buyers often insist on discounts for large orders. Experience shows that the amount
of their req
ECON 180 - Statistics-Bus & Econ
Assignment 2 - Solutions
1. Question 4.19 from the textbook (Essentials of Business Statistics 3rd edition, page 195)
a. P(Moderate to high RiskjAerospace company)= P
ECON 180 - Statistics-Bus & Econ
Assignment 1-Solutions
1.
a. number of classes=1+3.3log(n)=1+3.3log(28)=5.77' 6
Range
b. Range=47-17=30, class length= number of classes =
c,d, f.
Class
below 20
21-25
ECON 180 - Statistics-Bus & Econ
Assignment 1
Due: September 12th Thursday at the beginning of the LECTURE
(No late homework will be accepted)
1. Consider the following data:
36
46
40
38
39
40
38
38
3
ECON 180 - Statistics-Bus & Econ
Assignment 2
Due: September 26th Thursday at the beginning of the LECTURE
(No late homework will be accepted)
1. Each month a brokerage house studies various companies
ECON 180
Statistics-Bus & Econ
Practice Final Exam
Name (Last, First):_
Student ID:_
1
1.
A sample of 10 adults was asked to report the number of hours they spent on the Internet the previous
month. T
ECON 180
Statistics-Bus & Econ
Practice Final Exam
Name (Last, First):_
Student ID:_
1
1.
A sample of 10 adults was asked to report the number of hours they spent on the Internet the previous
month. T
ECON 180 - Statistics-Bus & Econ
Midterm 1-Review Questions
1.
a. In a shipment of 100 televisions, 6 are defective. If a person buys two televisions from that shipment,
what is the probability that b
1)
2)
3)
4)
5)
6)
7)
Assignment 3- Solutions
p=0.4 (probability of graduate), q=1-0.4=0.6 (probability not graduate)
n=6
P(at least one of them not graduate)=! ! 1 = 1 ! ! = 0
ECON 180
Assignment 3
Due: Tuesday, October 22nd at the beginning of the LECTURE
1. The probability of a student graduating from college in four years is 0.4. If 6
students are selected at random, fin
ECON 180 - Statistics-Bus & Econ
Midterm 2-Review Questions
1. Consider a state election across all 15 counties of the state. One candidate each from four political parties
(parties A, B, C and D) are
ECON 180 - Statistics-Bus & Econ
Midterm 1-Review Questions
1.
a. In a shipment of 100 televisions, 6 are defective. If a person buys two televisions from that shipment,
what is the probability that b
ECON 180 - Statistics-Bus & Econ
Midterm 2-Review Questions
1. Consider a state election across all 15 counties of the state. One candidate each from four political parties
(parties A, B, C and D) are
Running Head: APPLICATIONS OF THE SCIENTIFIC METHOD
Applications of the Scientific Method
1
Developing a new product is one of the factors that several companies find complex to
undertake. The complex
ECO 202-Davenport
Fall 2012
Quiz #3 ANSWER KEY
Part I: Multiple Choice (choose the BEST answer and show all work.)
Name_
1. Which of the following is NOT a form of price discrimination?
A.
B.
C.
D.
Bu
PrinciplesofMacroeconomics,9eTB1(Case/Fair/Oster) Chapter10
1
TheMoney Supplyand theFederal Reserve System 10.1
An
1
M ul ti pl e C 1)
h o i c e
Moneyis A)
thesameas B)
income.
anythingthatis general
PrinciplesofMacroeconomics,9eTB1(Case/Fair/Oster) Chapter2
1
The Economic Problem: Scarcity andChoice 2.1
Scar
1
M ul ti pl e C 1)
h o i c e
The
processbywhichresourcesaretransformedintousefulformsis
142-C97
Rev. 11/10/00
Tijuana Bronze Machining
As time goes by, it becomes clear to me that our competitors are crazy. Pumps
are a major product in a big market for all of us, but with the prevailing
Irene Ladies Menajang
IIC/100613031
MICROECONOMICS
MISSING INFORMATION FROM ADVERTISEMENT
The advertisement is about the laptop/netbook products from HewlettPackard (HP). The missing information is th
Irene Ladies Menajang
IIC / 100613031
MICROECONOMICS ASSIGNMENT
CHAPTER 11
2.Decide whether you agree or disagree and explain your answer.
c.Higher interest rates lead to more investment because those