Ch18 SOLUTIONS TO END-OF-CHAPTER EXERCISES
Answers to Thinking Critically Questions
1. If the tax did not deter consumption at all, the demand for soda would be perfectly inelastic,
and consumers would pay the full amount of the tax. Though in this case,
Practice Test for Midterm 2
Please read carefully and choose the choice that best completes the statement or answers the question.
This table refers to five possible buyers' willingness to pay for a case of
Econ Practice Problems
Identify the choice that best completes the statement or answers the question.
Chapter 13 Production and Costs
_B_ 1. Total revenue minus both explicit and implicit costs is called
Econ 201 Final Exam
1. In a competitive market, no single producer can influence the market price because
1. many other sellers are offering a product that is essentially identical.
2. consumers have more influence over the market price than producers do.
Masaryk University - Brno
Department of Economics Faculty of Economics and Administration
Lipov 507/41a, Pisrky, Brno
BPE_MIC1 Microeconomics 1 Fall Semester 2010
Final exam - 24.01.2011, 1:30 - 3:00 p.m.
Test Version: B
Guidelines and Rules:
1. The test