Economics 1021A/B Study Guide - Final Guide: Average Variable Cost, Price Ceiling, Indifference Curve

• School: Western University
• Department: Economics
• Course: Economics 1021A/B
• Professor: Irene Trela

Document Summary

To prepare for midterm #2 work all the homework questions assigned to you as well as this review. I will not be providing answers to this review; instead, i am leaving it up to students to "figure out" the correct answers by referencing both the homework questions i have assigned you and your lecture notes. Though this review does not cover questions pertaining to the questions taken up in the tutorials, be prepared to answer questions on the midterm exam relating to the tutorial questions. Choose the one alternative that best completes the statement or answers the question. If a rigorously enforced price ceiling is set at , then. 150 units will be sold at a price of . 200 units will be sold at a price of . 100 units will be sold at a price of . 100 units will be sold at a price of . 100 units will be sold at a price of .