ECN 211 Study Guide - Final Guide: Excess Reserves, Capacity Utilization, Scientific Method
Document Summary
Ecn 211 review - final: exam date and time, friday 8th may 7:30-9:20am, normal room. Q1) if asu increase tuition it is bad for me, therefore it is bad for every student that attends asu . This statement is an example of the pitfall called: the scientific method, rational self-interest, fallacy of composition, association as causation, ceteris paribus. Q2) if the number of buyers in a market increased and at the same time the number of sellers in the market increased, then. [a] equilibrium price must increase, but equilibrium quantity may either rise, fall, or remain unchanged. [b] equilibrium price decrease, but equilibrium quantity may either rise, fall, or remain unchanged. [c] equilibrium quantity must decrease, but equilibrium price may either rise, fall, or remain unchanged. [d] equilibrium quantity must increase, but equilibrium price may either rise, fall, or remain unchanged.
