ECON 201 Study Guide - Final Guide: Externality, Comparative Advantage, Ad Valorem Tax

• School: Concordia University
• Department: Economics
• Course: ECON 201
• Professor: All

Document Summary

The exam consists of two parts. (i) part i: 35 multiple-choice questions (35 marks); (ii) part ii: choose 5 out of 6 long questions (65 marks). Write your answers for the multiple-choice questions on the computer scan-sheet with a pencil. Part ii, write all your answers on this exam. You are allowed to use a non-programmable calculator and a dictionary. You may use either pen or pencil to provide your answers for part ii. Write your answers on the computer sheet in: dave is risk-averse while scott is risk-neutral. Both are confronted with the following gamble: win ,000 with the (total=35 marks). Pencil probability of 65% or lose ,000 with a probability of 35%. One can predict that: suppose you are told that total costs (tc) depend on output (q) as follows: tc = 100 + 7*q. Payoffs. a) b: dominant strategies, knowledge of the payoffs, suppose canada eliminates tariffs on chinese bicycles.