Exam 2 Econ 1103 November 24th
Chapters 8, 9 and 10 with expectations that you are competent with Supply and
Demand and Elasticity
You will have 1 hour 15 minutes to complete the exam.
If you read your book, kept good lecture notes, reviewed and completed
Exam 2 Econ 1103 November 24th
Chapters 8, 9 and 10 with expectations that you are competent with Supply and
Demand and Elasticity
You will have 1 hour 15 minutes to complete the exam.
If you read your book, kept good lecture notes, reviewed and completed
Exam 1 Econ 1103, Chapters 1, 2, 3, 4, 5,7
EXAM 1 October 20, 2015
You will have 1 hour and 30 minutes to complete.
If you read your book, kept good lecture notes, reviewed and completed small projects on D2L
and did your Aplia homework you can be reasona
Competency Check Pure Competition
1. A perfectly competitive firms demand is _ elastic and equal to _
which is equal to _.
2.
Use the following graph on a competitive firms short-run cost curves to answer this
question.
$
SM C
P r ic e a n d c o s t ( d o
Consumer Choice and
Elasticity
Chapter 7
Deeper Knowledge of
Consumer Choice
Limited Income Necessitates Choice
Consumers makes decisions purposefully
One good can be substituted for another
Consumers make decisions without perfect
information
The Law of
Economics 11
Spring 2005
1.
a.
b.
c.
d.
e.
Name:
Quiz 3
How would a decrease in lumber prices influence the home
construction market?
The demand for newly constructed homes will increase.
The demand for newly constructed homes will decrease.
The supply of
TRADE In Class Quality Check Work Sheet
THE GAINS FROM TRADE: Based on the Production Possibility Model
(Addendum Chapter 2, Watch the Kahn Academy YouTube Video on the last page of
Chapter 2 Power Points)
Learning Outcomes:
1. Provide the simple cognitiv
In Class Quality Check: Excise Tax
Name: _
Using the graph shown, answer the following questions.
a. What was the equilibrium price in this market before the tax?
b. What is the amount of the tax?
c. How much of the tax will the buyers pay?
d. How much of
In Class Quality Check: Excise Tax
Name: _
Using the graph shown, answer the following questions.
a. What was the equilibrium price in this market before the tax?
b. What is the amount of the tax?
c. How much of the tax will the buyers pay?
d. How much of
Name: _
Competency Check: Check Supply and Demand
Draw a supply and demand curve and label quantity Equilibrium (Q-EQ) and Price Equilibrium (P-EQ)
for Gas powered Lawn Mower (a normal good). Then graph the following two market events and reestablish the
Exam 1 Econ 1103, Chapters 1, 2, 3, 4, 5,7
EXAM 1 October 20, 2015
You will have 1 hour and 30 minutes to complete.
If you read your book, kept good lecture notes, reviewed and completed small projects on D2L
and did your Aplia homework you can be reasona
Theoretical Construct to develop Price and
Output and Advertising Decisions of Firms
Sets foundation for understanding the
characteristics of Different Market
Structures with differing degrees of Market
Power
Four Industry Structures
Pure Competition
Mon
Competency Check Pure Competition
1. A perfectly competitive firms demand is _ elastic and equal to _
which is equal to _.
2.
Use the following graph on a competitive firms short-run cost curves to answer this
question.
$
SM C
P r ic e a n d c o s t ( d o
Theoretical Construct to develop Price and
Output and Advertising Decisions of Firms
Sets foundation for understanding the
characteristics of Different Market
Structures with differing degrees of Market
Power
Four Industry Structures
Pure Competition
Mon
Exam 1 Econ 1103, Chapters 1, 2, 3, 4, 5,7
EXAM 1 October 20, 2015
You will have 1 hour and 30 minutes to complete.
If you read your book, kept good lecture notes, reviewed and completed small projects on D2L
and did your Aplia homework you can be reasona