ECON 202-502, SPRING 2012
Principles of Microeconomics
Mock Exam 1 for Mid-term Exam 3
Instructor: Sung Ick Cho
1) The reason that the coffeehouse market is monopolistically competitive rather
than pe
ECON 202-502, SPRING 2012
Principles of Microeconomics
Homework 1
Instructor: Sung Ick Cho
1) In economics, choices must be made because we live in a world of
A) unemployment.
B) scarcity.
C) greed.
D
ECON 202-502, SPRING 2012
Principles of Microeconomics
Mock Exam 1 for Mid-term Exam 3
Instructor: Sung Ick Cho
1) The reason that the coffeehouse market is monopolistically competitive rather
than pe
1.The test scores for a class of 147 students are computed. What is the location of the test score associated with the
third quartile? (Points:2)
111
Question2.2.What statistics are needed to draw a b
ECON 202-502, SPRING 2012
Principles of Microeconomics
Mock Exam 2 for Mid-term Exam 3
Instructor: Sung Ick Cho
1) If a firm faces a downward-sloping demand curve,
A) the demand for its product must b
Ch 8&9 Pt. 2
6. Question:
Apointestimateisasinglevalueusedtoestimateapopulationparameter.
True
7. Question:
Accordingtothecentrallimittheorem,_.
the sampling distribution of the sample means is approx
Ch 5 & 6 Pt. 2
6.
Question:
Toconstructabinomialdistribution,itisnecessarytoknowthetotal
numberoftrialsandtheprobabilityofsuccessoneachtrial.
True
7. Question:
Forthefollowingdistribution:
What is the
Ch 5 & 6 Pt. 1
1.
Question:
Astudyof200computerservicefirmsrevealedtheseincomesaftertaxes:
What is the probability that a particular firm selected has $1 million or more in
income after taxes?
0.49
2.
ECON 202-502, SPRING 2012
Principles of Microeconomics
Final Exam
Instructor: Sung Ick Cho
1) Tabitha shares a flea market booth with her sister. Her share of the rent is $150
per month. She is consid
1.Quartiles divide a distribution into four equal parts. (Points:1)
True
Question2.2.A percentile divides a distribution into one hundred equal parts. (Points:1)
True
Question3.3.Quartiles are another
ECON 202-502, SPRING 2012
Principles of Microeconomics
Homework 4
Instructor: Sung Ick Cho
1) Assuming a market price of $4, fill in the columns in the following table. What is
the profit-maximizing l
ECON 202-502, SPRING 2012
Principles of Microeconomics
Mock Exam 1 for Mid-term Exam 1
Instructor: Sung Ick Cho
Scenario M1-1
Suppose a t-shirt manufacturer currently sells 5,000 t-shirts per week
and
ECON 202-502, SPRING 2012
Principles of Microeconomics
Mock Exam 2 for Mid-term Exam 1
Instructor: Sung Ick Cho
1) Cassie's Quilts alters, reconstructs and restores heirloom quilts. Cassie has just
sp
ECON 202-502, SPRING 2012
Principles of Microeconomics
Mock Exam 1 for Mid-term Exam 2
Instructor: Sung Ick Cho
1) If the percentage increase in price is 15 percent and the value of the price elastici
ECON 202-502, SPRING 2012
Principles of Microeconomics
Mock Exam 2 for Mid-term Exam 2
Instructor: Sung Ick Cho
1) The price elasticity of demand for Stork ice cream is -4.
Suppose you're told that
fo
ECON 202-502, SPRING 2012
Principles of Microeconomics
Makeup Mid-term Exam 3
Instructor: Sung Ick Cho
Figure 12-1
1) Refer to Figure 12-1. The marginal revenue from one additional unit sold is the
su
1.For the normal distribution, the mean plus and minus 1.96 standard deviations will include about what percent of
the observations? (Points:2)
95%
Question2.2.For a standard normal distribution, what