ECON101 Study Guide - Midterm Guide: Comparative Advantage, Capital Accumulation, Inferior Good

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15 Oct 2018
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Use the figure below to answer the following questions: refer to the production possibilities frontier in figure 2. 1. 2. Figure 2. 1. 2: 20 units of y, 8 units of x, 2 units of x, 6 units of x, 30 units of y. We can conclude that: x and y are independent of each other, x and y are substitutes, x is a normal good, x is an inferior good, x and y are complements, some sales managers are talking shop. 700: in table 3. 4. 1, the equilibrium quantity is, 420 units, 500 units, 320 units, 200 units, none of the above; there is no equilibrium, refer to table 3. 4. 1. If the price is , then the surplus is: 400 units, 160 units, 290 units, 360 units, zero units, complete the following sentence. Use the figure below to answer the following questions. Demand and supply schedules for cups of coffee each day at coolu. A premature frost destroys half the coffee trees.

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