ECON 2100 Midterm: ECON 2100 Kennesaw State ECON2100 Summer2012 Exam2A Key
Document Summary
Econ 2100 (summer 2012 sections 07 and 08) Which of the following observations would support a claim that good x" is a complement for. The cross price elasticity of demand for good x" with respect to the price of good. The price elasticity of demand for good x" ( 1. 53) is more negative than the price. Consider a market in which the efficient level of trade is 22,000 units. None of the above answers are correct, since deadweight-loss can never be negative. During the month of may her company produced. 6,000 units of output, resulting in average total costs of . 00 and average variable costs of. Marginal costs were equal to zero for every unit of output produced, since the firm is clearly operating in the intermediate run. More than one (perhaps all) of the above answers is correct. price. A widespread series of price controls were administered in the united states by the cost of.
