🏷️ LIMITED TIME OFFER: GET 20% OFF GRADE+ YEARLY SUBSCRIPTION →
Log in
HomeStudy Guides420,000CA160,000

ECON 1101 Final: Final Exam - Fall 2017

430 views71 pages
cerisegiraffe538
28 Feb 2018
School
Dalhousie University
Department
Economics
Course
ECON 1101
Professor
Teresa Cyrus

For unlimited access to Study Guides, a Grade+ subscription is required.

avalack09 and 39835 others unlocked
ECON 1101 Full Course Notes
21
ECON 1101 Full Course Notes
Verified Note
21 documents

Document Summary

Chapter: 1 - 4: dave and jules gather lobster and eels, and spend all day doing this. 2 lobsters are the opportunity cost of 1 eel for dave. 4 lobsters are the opportunity cost of 1 eel for jules. Eels are the opportunity cost of 1 lobster for dave. Eels are the opportunity cost of 1 lobster for jules. Jules is better at fishing lobsters (because opportunity cost of 1 eel is 4 lobsters , compared to. Dave"s which is 2 lobsters) while dave is better at fishing eels (because opportunity cost of 1 lobster is eel, compared to jules which is eel): qd = 100 3p. Look for the x-intercept and y-intercept of demand and supply. Let p=0 to find value of qs when p=0. Let p=0 to find value of qd when p=0. Qs = 10 this is the quantity value when p=0.

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers

Related Documents

ECON 1101
Final Exam
Study Guide
ECON 1101 Study Guide - Midterm Guide: Mixed Economy, Price Elasticity Of Demand, Market Failure
cerisegiraffe538
ECON 1101
Final Exam
Study Guide
ECON 1101 Study Guide - Final Guide: Marginal Utility, Relate, Marginal Revenue
turquoisegnu128
ECON 1101
Final Exam
Study Guide
ECON 1101 Final: Final Exam - Fall 2017
cerisegiraffe538

Related Questions

For several​ years, a professor at Johns Hopkins University had been using the following grading scheme for his final​ exam: He would give an A to the student with the highest score. The grades of the remaining students were then based on what percentage their scores were of the top​ student's score.

In the fall of​ 2012, the students in the class came up with the idea of boycotting the final exam. They stood in the hallway outside the classroom but, did not enter the room to take the exam. After waiting for a​ time, the professor canceled the exam​ and, applying his grading​ scale, gave everyone in the class an A on the exam. An article in the New York Times about this incident​ observes: "This is an amazing game theory​ outcome and not one that economists would likely​ predict."

Game theory indicates the​ students' strategy was unlikely to work because
a. game theory predicts that there must be winners and losers.
b. it is difficult to get a group of people to agree and not defect.
c. it is a violation of university policy to refuse to take an exam.
d. game theory is predicated on Nash equilibriums.