Slope of the line = y-y1/x-x1
Perfect Compet; all goods exactly the same, buyer & sellers so many, no one affects market
price.
Law of demand: claims that quantity demanded of a good falls when prices increase.
Quantity demanded in a market is the sum of

Business 100
Introduction to Canadian Business
Group Project
Objective
This group project has been structured to provide students with an opportunity to see how the
concepts covered during classroom discussion relate first-hand to a particular firm (a pub

ECON 100 AB1
Principles of Microeconomics
Week 1.Introduction
Ch 1& 2
September 8th ,10th 2015
Bosu Seo, PhD
Agenda
1. Introduction
Syllabus
Textbook
2. Basic Math and Graphing
3. What is Economics?
Ten principles of Economics
4. Thinking like an Econo

Principles of Microeconomics
ECON 100 AB1
2016 Fall
Assignment #1 incomplete (part II will be added on Sep 13th, 2016)
Due Date: September 27, 2016
For credit, you are asked to submit the answer for part II only. I will distribute the answer of part I
on

James Bennett 300145414
Econ 100 AB1
Principles of Microeconomics
ECON 100 AB1
2016 Fall
Assignment #1
Due Date: September 27, 2016
For credit, you are asked to submit the answer for part II only. I will distribute the answer of part I
on September 20, 20

The slope of a line is the ratio of the vertical distance covered to the horizontal distance
covered as we move along the line.
Scarcity refers to the limited nature of societys resources.
Scarcity means that there is less of a good or resource availabl

-The slope of a line is the ratio of the vertical distance covered to the horizontal distance covered as we move along the line.
-Scarcity means that there is less of a good or resource available than people wish to have.
-When economists are trying to ex

True/False Questions
Chapter 1 & 2
T
F 1. Scarcity means that there is less of a good or resource available than people wish to have.
ANS: True
T
F 2. If the average cost of transporting a passenger on the train from Chicago to St. Louis is $75, it
would

Econ 100 AB1
Principles of Microeconomics
Fall 2016
Lab #4
Q1. Leah owns a water pump. Because pumping large amounts of water is harder than pumping
small amounts, the cost of producing a bottle of water rises as he pumps more. Here is the cost
she incurs

Principles of Microeconomics
ECON 100 AB1
2016 Fall
Assignment #2
Due Date: November 1, 2016
For credit, you are asked to submit the answer for part II only. I will distribute the answer of part I
on October 25, 2016 so that you can think part II more cri

Econ 100 AB1 Principles of Microeconomics
2016 Fall
Diagnostic Math Exam
1. Solve the following simultaneous equations. What are the values of X, Y?
3X + 2Y = 9
X+Y=4
Step 1. 3x+2y=9
2x+2y=8 , then take minus between two equation and you obtain x=1.
Step

Econ 100 AB1
Principles of Microeconomics
Fall 2016
Lab #4
Q1. Leah owns a water pump. Because pumping large amounts of water is harder than pumping
small amounts, the cost of producing a bottle of water rises as he pumps more. Here is the cost
she incurs

Principles of Microeconomics
ECON 100 AB1
Additional questions for Ch6
True/False Questions
Chapter 6
T
F 1. If a price ceiling of $2 per litre is imposed on gasoline, but the market equilibrium price is $1.50, the
price ceiling is a binding constraint on