ECON 101 Lecture 2: ECON 101 WEEK 2 QUESTIONS.docx
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ECON 101 Full Course Notes
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Economics 101 practice questions #2: a technological breakthrough reduces the cost of producing computer chips. If the shift in supply is relatively small compared to the shift in demand, the price of cigarettes will decrease. But if the shift in supply is large in accordance to the shirt demand, then the price will increase. Economics 101 practice questions #2: the canadian government aims to reduce smoking among canadians by (a) media campaigns that makes the public aware of the dangers of smoking and/or (b) imposing tax on tobacco, which is an input of cigarette production. Economics 101 practice questions #2: the demand of housing in vancouver is given by qd = 200 2p. When the demand decreases, there will be a lower equilibrium price and lower equilibrium quantity: explain each of the following statements using s and d diagrams, when a cold snap hits florida, the price of orange juice rises in supermarkets throughout canada.
