CAS EC 101 Study Guide - Midterm Guide: Economic Equilibrium, Demand Curve, Inferior Good

• School: Boston University
• Department: Economics
• Course: CAS EC 101
• Professor: All

Document Summary

Identify the letter of the choice that best completes the statement or answers the question. Each question is worth an equal number of points. Be sure to answer questions on the bubble answer sheet provided. Any questions answered on the test question sheets will not be counted. Please write your name on the test sheet and on the bubble sheet. Very important: write 3 in the space provided on the bubble sheet to indicate the version of your exam. Both the test sheets and the bubble sheet must be turned in at the end of the exam. ______________________________________________: in 2004, hurricanes destroyed a large portion of florida"s orange and grapefruit crops. The table above shows the demand schedules for loose-leaf tea of two individuals (sunil and mia) and the rest of the market. At a price of , the quantity demanded in the market would be: 51 lbs, 63 lbs, 76 lbs, 146 lbs.