ECON 2350 Study Guide - Psel River, Marginal Revenue, Marginal Cost
17 Apr 2013
School
Department
Course
Professor
Document Summary
The total marks in this test are 60. Part i - problem format - is worth 52 marks (52 of the total mark of 60) Part ii explanation questions are worth 8 marks (8 of the total mark of 60) Place your answers (and work where necessary) in the space provided. Print your name and student number clearly on the front of the exam and on any loose pages. Econ2350): midterm exam #2, march 11, 2013: tax and subsidies: diagram and calculations (14 marks) Share (ss) of the tax in your diagram. (3 marks) c) clearly identify the total revenue from the tax for the government (1 mark) D a) 1 mark: supply obviously relatively flatter than demand. 1 mark: shift up supply: 1 mark: bs = p1 [from intersection of new supply (whatever) and original d] po. 1 mark: pseller from p1 tax = point on original supply curve at q1.
