Quiz 1- Chapter 1 and 2
In general, the higher the proportion of resources devoted to technological research in an economy
The greater will current consumption
The faster the PPF will shift outward
The faster the PPF will shif
Quiz 1 Version A S 1 2013
Economics 100 Quiz 1 Version A
Name: Student ID: Tutor name/ tutorial time/day
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) You own the Modern Family six DVD set. T
Study Questions Chapter 14
1) A firm should hire more labor when the marginal revenue product of labor
A) equals the wage rate.
B) exceeds the wage rate.
C) is less than the wage rate.
D) Any of these can be true.
E) None of these are true.
THE ECONOMIC PROBLEM
After studying this chapter, you will be able to:
Define the production possibilities frontier and use it to
calculate opportunity cost
Distinguish between production possibilities and
preferences and describe an efficient allocat
Econ 1000 Lecture 5
Slide 18 Lisa. The area of the whole triangle is not part of lisas benefit because its
still part of her expenditure.
The area of the triangle is excess supply (surplus)
Expenditure equals to price times quantity
Individual supply curv
Assignment 1 Microeconomics
Rahul Anand (213678073)
Q 1. The Beer Flavour question
Qb = f (Pb, Income, Pc, Fn, Ps, Accessibility, Weather, Gr)
Pb = Price of Beer. Demand for beer is dependent on the price of beer. Price will have a (-v