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ECON1002: Microeconomics Instructor: Qingbin Wang Final 
 
Instruction: Please choose the most appropriate answer and follow the instructions on Ulearn to submit your answers. The answers on the problem set will NOT be graded. 
Good luck! 
 
Please choose the most appropriate answer to each question. 
 
1.	The main determinant of elasticity of supply is the: 
A.	number of close substitutes for the product available to consumers. 
B.	amount of time the producer has to adjust inputs in response t...
MAFC 2505 Cancer & Oncology Nursing NCLEX Practice Quiz 2/MAFC 2505 Cancer & Oncology Nursing NCLEX Practice Quiz 2/MAFC 2505 Cancer & Oncology Nursing NCLEX Practice Quiz 2/MAFC 2505 Cancer & Oncology Nursing NCLEX Practice Quiz 2/MAFC 2505 Cancer & Oncology Nursing NCLEX Practice Quiz 2/MAFC 2505 Cancer & Oncology Nursing NCLEX Practice Quiz 2/MAFC 2505 Cancer & Oncology Nursing NCLEX Practice Quiz 2
ECON 1002 Midterm Test.
Question 1 
	A demand curve:			
		
	
			
 Question 2 

 

	The income effect that results from a price change is given by:			
		
	
			
 Question 3 

 

	The table below shows the quantities demanded and quantities supplied for a good at various prices. The equilibrium price and quantity for the good above respectively equal:
Price	Qdemanded	Qsupplied
$0.25	500	200
$0.50	400	400
$0.75	200	600
$1.00	100	800
			
		
	
			
 Question 4 

 

	When price is below the market eq...
ECON 1002: Microeconomics
Final


1.	The main determinant of elasticity of supply is the: 
A. 	number of close substitutes for the product available to consumers.
B. 	amount of time the producer has to adjust inputs in response to a price change.
C. 	urgency of consumer wants for the product.
D. 	number of uses for the product.

Use the following table to answer question 2
 
2.	Refer to the table. Over the $6-$4 price range, supply is: 
A. 	perfectly elastic.
B. 	elastic.
C. 	perfectly inelastic...
ECON1002: Microeconomics Exam2
 

1.	If many people in a community install fire hydrants, the whole community benefits including those that did not install it. Therefore, not enough people may decide to install the fire hydrant. This is one illustration of: 
A. The market allocating resources efficiently
B. Monopoly power due to lack of competition
C. Supply-side market failure
D. Demand-side market failure
 
2.	When a private firm provides fireworks, it could not produce the efficient amount of...
Attached is a download for Day 1 and Day 2 study guide with answers for French and Italian class.
Buffer solutions lab report, making a buffer solution
Lab to determine the amount of vitamin C in a sample.
Lab on gas laws and gas constants. The determination of R values.
Lab on making a periodic table trend off of Mendeleev's method.