ECON101 Study Guide - Midterm Guide: Shoplifting, Budget Constraint, Demand Curve
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Do not write your name anywhere on the exam. The maximum points total is 20 + 2 bonus points. You have 90 minutes to complete the exam. Budget your time well and show your work. Good luck: (5 points) hanna(cid:146)s total willingness to pay schedule for watches is. Continue to assume that the price of a watch is : (4 points) erwin(cid:146)s total willingness to pay (twp) schedule for dvds is as follows. Suppose now that videosuper charges regular customers for each dvd and that videosu- per sells dvds at a 50% discount to customers who choose to become silver club members by paying a membership fee. Will erwin choose to become a silver club member at. 3. (5 points) jerry lives in an economy with two goods: bananas and apples. Bananas cost each and apples cost each.
