CAS EC 101 Study Guide - Midterm Guide: Ceteris Paribus, Giffen Good, Price Floor
56
CAS EC 101 Full Course Notes
Verified Note
56 documents
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 2 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. Assume that the graphs in this figure represent the demand and supply curves for bicycle helmets. This shift in demand for apples results in a higher price for apples; this higher price will cause the supply curve for apples to shift to the right. "
