ECON 201 Study Guide - Midterm Guide: Comparative Advantage, Economic Equilibrium, Demand Curve
20 Dec 2017
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Which arrow shows the flow of the factors of production: a, b, c, d. The economy cannot produce at which point or points: a, c, a, c, a, c, d, refer to figure 2-3. Which point or points are efficient: b, e, a, b, e, d, c. The opportunity cost to the economy of getting 30 additional toothbrushes by moving from point a to point d is: 10 toasters, 15 toasters, 20 toasters, 25 toasters. Labor hours needed to make one unit of: The opportunity cost of 1 quilt for carolyn is: 5 dresses, 4 dresses, 3 dresses, 2 dresses, refer to table 3-2. Equilibrium price and quantity are: and 200, and 600, and 400, and 200, refer to figure 4-7. Using the midpoint method, the price elasticity of demand for. Twinkies in the given price range is: 2. 00, 1. 55, 1. 00.
