ECON 1011 Study Guide - Quiz Guide: George Washington University, Midpoint Method, Demand Curve
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ECON 1011 Full Course Notes
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The george washington university department of economics econ 1011: principles of microeconomics prof. irene r. foster quiz iii 45 points show your work when solving problems for partial credit. Cell phones may not be used as calculators. Your name:________________________________________________________________________________________ econ 1011 class meeting time:________________________________________________________________ your ta"s first and last name (1 ec point) _________________________________________________ https://www. coursehero. com/file/11042659/sample-quiz-iii/ 200 100 250 80 400 50 500 40 800 25 draw the total revenue curve and identify which sections of the total revenue curve reflect elastic demand, inelastic demand and unit elastic demand. Your answer should be supported with your understanding of therelationship between price elasticity of demand and total revenue. https://www. coursehero. com/file/11042659/sample-quiz-iii/ Econ 1011 gwu- economics irene r. foster 3 2)(2 points) papa"s pizza company wants to increase the quantity of pizzas it sells by 20%. Ifthe price elasticity of demand is 4, the company must increase/decrease price by___________%. 3)(2 points) the toll on a bridge is currently sh. 90.
