ECON-UA 1 Study Guide - Final Guide: Opportunity Cost, Health Food Store, Forklift
28 Nov 2018
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One point for correctly filling in the bubble sheet; zero otherwise. Final exam version a: ramona decides to spend two hours taking a nap rather than attending her classes. Answer: a: betty"s bakery bakes fresh bread every morning. Any bread not sold by the end of the day is thrown away. A loaf of bread costs betty . 00 to produce, and she prices loaves of bread at . 50 per loaf. Suppose near the end of one day betty still has 12 loaves of bread on hand. Answer: c: you observe the price of a good is rising. You can necessarily conclude that: demand is increasing, supply is increasing, demand and supply are decreasing, the quantity demanded exceeds the quantity supplied, the quantity demanded is less than the quantity supplied. Answer: a: over the last 20 years, americans have chosen to cook less at home and eat more at restaurants.
