MODR 1710 Study Guide - Final Guide: Indifference Curve, Ecotax, Economic Equilibrium
29 Feb 2020
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This examination consists of two parts for a total of 100 marks. 4 analytic/graphical questions for a total of 40% 5 multiple choice questions not be deducted from right in grading part ii. worth 2 marks each for a total of 10%. All questions are to be answered in the spaces provided in this question paper booklet. Do not remove any pages or add any pages. The blank backs of pages may be used for rough work. You must use pen instead of pencil to be eligible for remarking. Print your name and student number clearly on the front of the exam and on any loose pages. Place your answers (and work where necessary) in the space provided. Suppose that the demand and supply equations for radial tires, a competitive market, are. P = 350 0. 032q and p = 90 + 0. 048q (q is in tires and p is in ) a) what is competitive equilibrium? (2 marks)
