Terminal Examination, Micro-Economics, BSBA II (Evening), Spring 2020 (1-36)

ID Start time Completion time Email
1 8/17/20 16:21:18 8/17/20 16:52:09 04151914036@student.q

2 8/17/20 15:05:47 8/17/20 16:54:06 04151914010@student.q
3 8/17/20 16:35:36 8/17/20 16:54:54 04151914016@student.q
4 8/17/20 15:00:28 8/17/20 16:57:24 04151914026@student.q
5 8/17/20 15:01:09 8/17/20 16:57:57 04151914009@student.q
6 8/17/20 15:01:31 8/17/20 16:58:45 04151914023@student.q
7 8/17/20 17:01:05 8/17/20 17:01:27 04151914007@student.q
8 8/17/20 15:00:48 8/17/20 17:02:35 04151914015@student.q
9 8/17/20 15:03:30 8/17/20 17:03:03 04151914006@student.q
10 8/17/20 15:05:35 8/17/20 17:03:36 04151914032@student.q
11 8/17/20 17:03:03 8/17/20 17:04:43 04151914003@student.q
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16 8/17/20 15:01:26 8/17/20 17:06:12 04151914014@student.q
17 8/17/20 15:00:28 8/17/20 17:06:14 04151914045@student.q
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20 8/17/20 15:03:03 8/17/20 17:07:08 04151914043@student.q
21 8/17/20 15:01:29 8/17/20 17:07:21 04151914039@student.q
22 8/17/20 15:00:58 8/17/20 17:07:36 04151914004@student.q
23 8/17/20 15:02:41 8/17/20 17:07:38 04151914027@student.q
24 8/17/20 16:01:49 8/17/20 17:07:46 04151914031@student.q
25 8/17/20 15:03:47 8/17/20 17:08:38 04151914034@student.q
26 8/17/20 15:00:56 8/17/20 17:08:40 04151914035@student.q
27 8/17/20 15:01:11 8/17/20 17:08:43 04151914040@student.q
28 8/17/20 15:01:44 8/17/20 17:08:48 04151914018@student.q
29 8/17/20 15:01:22 8/17/20 17:08:51 04151914046@student.q
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32 8/17/20 16:34:56 8/17/20 17:09:59 04151914041@student.q
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35 8/17/20 17:11:31 8/17/20 17:11:56 04151914011@student.q
36 8/17/20 17:07:44 8/17/20 17:16:10 04151914038@student.q
Name Total points Quiz feedback Grade posted time
04151914036 Student Q 29
04151914010 Student Q 46
04151914016 Student Q 71
04151914026 Student Q 70
04151914009 Student Q 64
04151914023 Student Q 50
04151914007 Student Q 78
04151914015 Student Q 65
04151914006 Student Q 77
04151914032 Student Q 58
04151914003 Student Q 52
04151914012 Student Q 67
04151914024 Student Q 52
04151914017 Student Q 57
04151914028 Student Q 71
04151914014 Student Q 73
Waqar Hussain 74
04151914013 Student Q 58
04151914030 Student Q 69
04151914043 Student Q 45
04151914039 Student Q 63
04151914004 Student Q 71
04151914027 Student Q 51
04151914031 Student Q 54
04151914034 Student Q 60
04151914035 Student Q 61
04151914040 Student Q 43
04151914018 Student Q 80
04151914046 Student 60
04151914022 Student Q 53
04151914019 Student Q 78
04151914041 Student Q 57
04151914037 Student Q 52
04151914020 Student Q 52
04151914011 Student Q 52
04151914038 Student Q 35
Answer the next question(
Points - Answer the next Feedback - Answer the nex
4X and 104 0 4X and 3Y
None of these 0 None of these
None of these 0 3X and 4Y
None of these 0 4X and 2Y
Points - Answer the next Feedback - Answer the nex
Points - Answer the next
0 156 2
2 156 2
0 156 2
0 156 2
0 None of these 0
2 156 2
0 156 2
0 136 0
0 156 2
2 156 2
0 136 0
0 136 0
2 156 2
2 156 2
0 156 2
0 136 0
0 156 2
2 156 2
2 156 2
0 156 2
2 156 2
0 156 2
0 None of these 0
2 156 2
2 136 0
0 156 2
0 None of these 0
0 None of these 0
2 156 2
2 156 2
2 156 2
0 156 2
2 156 2
2 156 2
2 None of these 0
0 84 0
utility of product X is 40 units
utilityand
of product
Y is 24 units.
X is 40
The
units
utility
unitand
price
of product
Y isof24X units.
isX$5.
is 40
The
The
units
price
unitand
price
Y isof24X units.
is $5. T
Feedback - Answer the nex
of Y is: of Y is: of Y is:
$4 per unit. 0
$2 per unit. 0
$3 per unit. 4
$3 per unit. 4
$3 per unit. 4
$4 per unit. 0
$3 per unit. 4
$3 per unit. 4
$3 per unit. 4
$2 per unit. 0
$2 per unit. 0
$2 per unit. 0
$2 per unit. 0
$3 per unit. 4
$3 per unit. 4
$3 per unit. 4
$3 per unit. 4
$2 per unit. 0
$2 per unit. 0
$2 per unit. 0
$2 per unit. 0
$3 per unit. 4
$3 per unit. 4
$2 per unit. 0
$1 per unit. 0
$3 per unit. 4
None of these 0
$2 per unit. 0
$2 per unit. 0
$3 per unit. 4
$2 per unit. 0
$3 per unit. 4
$1 per unit. 0
$2 per unit. 0
$2 per unit. 0
None of these 0
Which is an explanation Points - Which is an exp Feedback - Which is an eMicroeconomics deals pri
the law of increasing opp 0 dynamics, partial equilib
the law of increasing opp 0 comparative statics, part
the law of diminishing mar 1 dynamics, partial equilib
the law of diminishing mar 1 None of these
the law of diminishing mar 1 comparative statics, part
the law of diminishing mar 1 comparative statics, gene
normal goods 0 comparative statics, gene
the law of increasing opp 0 None of these
None of these 0 comparative statics, part
the law of supply 0 comparative statics, gene
the law of supply 0 comparative statics, part
None of these 0 comparative statics, gene
the law of increasing opp 0 comparative statics, gene
the law of supply 0 None of these
the law of increasing opp 0 None of these
the law of supply 0 comparative statics, gene
the law of supply 0 comparative statics, part
Points - Microeconomics Feedback - Microeconomic
If there are 1000 identic Points - If there are 100
0 Qdx = 8– Px cet: par: 0
0 Qdx = 8– Px 0
0 Qdx = 8– Px 0
0 None of these 0
2 None of these 0
0 QDy =1000(Qdx) 0
0 Qdx = 8– Px 0
0 Qdx = 8– Px 0
0 Qdx = 8– Px 0
0 QDy =1000(Qdx) 0
2 QDy =1000(Qdx) 0
0 QDx =1000(Qdx) cet: par 0
0 QDy =1000(Qdx) 0
0 QDy =1000(Qdx) 0
0 QDy =1000(Qdx) 0
0 Qdx = 8– Px 0
0 Qdx = 8– Px 0
0 Qdx = 8– Px 0
2 QDy =1000(Qdx) 0
Feedback - If there are 1 Suppose the supply for prPoints - Suppose the suppl
Feedback - Suppose the su
the equilibrium price and 0
the equilibrium price will 0
the equilibrium quantity w 1
None of these 0
None of these 0
None of these 0
None of these 0
If the coefficient of inc Points - If the coefficie Feedback - If the coeffic If the demand for agricult
can not be determined. 0 as the prices decrease,
will increase; 0 as the prices decrease,
will decrease; 2 the percentage decrease
will increase; 0 the percentage decrease
can not be determined. 0 the percentage decrease
will remain constant; 0 as the prices decrease,
will remain constant; 0 the percentage decrease
None of these 0 rising prices do not lead
will decrease; 2 as the prices decrease,
will increase; 0 rising prices do not lead
will remain constant; 0 as the prices decrease,
will remain constant; 0 the percentage decrease
will increase; 0 None of these
can not be determined. 0 rising prices do not lead
Points - If the demand forFeedback - If the demandThe
f price of the product Points - The price of th
0 unit elastic; 2
0 elastic; 2
0 Perfectly inelastic 2
0 can not be determined fr 2
2 inelastic; 2
0 inelastic; 2
0 inelastic; 2
2 inelastic; 2
0 inelastic; 2
0 None of these 2
0 inelastic; 2
0 unit elastic; 2
0 inelastic; 2
2 inelastic; 2
2 inelastic; 2
0 inelastic; 2
0 inelastic; 2
0 elastic; 2
0 can not be determined fr 2
Feedback - The price of The price of the product Points - The price of the Feedback - The price of
inelastic; 1
inelastic; 1
elastic; 0
elastic; 0
inelastic; 1
inelastic; 1
elastic; 0
elastic; 0
elastic; 0
inelastic; 1
can not be determined fr 0
unit elastic; 0
inelastic; 1
inelastic; 1
elastic; 0
elastic; 0
elastic; 0
inelastic; 1
inelastic; 1
elastic; 0
inelastic; 1
unit elastic; 0
inelastic; 1
inelastic; 1
elastic; 0
inelastic; 1
elastic; 0
inelastic; 1
elastic; 0
inelastic; 1
elastic; 0
unit elastic; 0
elastic; 0
inelastic; 1
Choose the false statemePoints - Choose the falseFeedback - Choose the faIf the demand curve for p
for a company whose produ 0 Both goods A and B are in
after a long period of ti 0 A and B are complementa
for a company whose produ 0 A and B are complementa
if the price and the prod 2 A and B are complementa
for a company whose produ 0 A and B are substitute go
in general, the demand fo 0 A and B are complementa
in general, the demand fo 0 A and B are substitute go
in general, the demand fo 0 Both goods A and B are in
for a company whose produ 0 A is an inferior good, and
for a company whose produ 0 A and B are substitute go
if the price and the prod 2 A is an inferior good, and
Points - If the demand cuFeedback - If the demandSuppose the price of a g Points - Suppose the pric
0 the revenues earned by p 0
0 the company's expenses r 0
1 the revenues earned by 1
1 the revenues are not inf 0
0 None of these 0
Feedback - Suppose the pSuppose the price of a g Points - Suppose the pricFeedback - Suppose the p
the revenues earned by p 2
the company's expenses r 0
the revenues earned by 0
If a price increase of 50%Points - If a price increa Feedback - If a price incr If a price increase of 50%
½ 0 ½
½ 0 2
½ 0 ¼
2 1 ¼
2 1 ¼
¼ 0 2
2 1 ½
1 0 ½
1 0 ½
2 1 2
1 0 ½
½ 0 None of these
2 1 2
2 1 2
¼ 0 None of these
½ 0 2
1 0 None of these
2 1 2
2 1 2
None of these 0 1
2 1 2
¼ 0 ¼
None of these 0 ½
½ 0 2
½ 0 2
¼ 0 ¼
½ 0 None of these
2 1 1
2 1 2
2 1 2
1 0 2
2 1 2
2 1 2
2 1 ½
¼ 0 2
½ 0 ½
Points - If a price increa Feedback - If a price incr The total utility coincidesPoints - The total utility
0 at the saturation point 0
0 for the first unit consum 1
0 only for the irrational c 0
0 at the level of the last 0
0 at the level of the last 0
c. energy costs for manufacturing;
Feedback - The total utili d. expenditure for gener...
d. expenditure for gener...
d. expenditure for gener...
(a,c,d) 0
(a,b,d) 2
(a,b,c) 0
(a,c,d) 0
None of these 0
(a,b,d) 2
(a,b,d) 2
(a,c,d) 0
(a,b,d) 2
(a,b,d) 2
None of these 0
(a,b,d) 2
(a,b,d) 2
(a,b,d) 2
(a,c,d) 0
(a,b,d) 2
(a,b,d) 2
(a,b,d) 2
(a,b,d) 2
(b,c,d) 0
(a,b,d) 2
(a,b,d) 2
(b,c,d) 0
(a,b,d) 2
(a,b,c) 0
(b,c,d) 0
None of these 0
(a,b,d) 2
(a,b,c) 0
(b,c,d) 0
(a,c,d) 0
(a,b,d) 2
(b,c,d) 0
(a,b,d) 2
(a,b,d) 2
(a,b,d) 2
d) Variable cost exist onlyd)inVariable
long runcost exist onlyd)inVariable
long runcost exist onlyc)inVariable
long runcost exist both in short run and long
e) Variable... e) Variable... e) Variable... d) ...
Only “a & e” 2 (a, b, c & d)
Only “d” 0 (a & c)
All the options from “a” t 0 Only "a"
All the options from “a” t 0 (a, b, c & d)
Only “b &c” 0 None of these
Only “d” 0 (a & c)
Only “a & e” 2 (a & b)
Only “a” 2 Only "a"
Only “a & e” 2 Only "a"
Only “b &c” 0 (a & c)
Only “a & e” 2 (a & b)
Only “a & e” 2 (b & c)
Only “b &c” 0 (a & c)
Only “a & e” 2 (b & c)
Only “e” 0 (b & d)
Only “a” 2 (b & c)
Only “a & e” 2 (a & b)
Only “a” 2 (a & c)
Only “a & e” 2 (a & c)
Only “a & e” 2 (a & c)
Only “a & e” 2 (a & c)
Only “d” 0 (a & c)
Only “a & e” 2 (a, b & c)
Only “a & e” 2 (a & d)
Only “b &c” 0 (a & b)
Only “e” 0 (a, b & c)
All the options from “a” t 0 (a & d)
Only “e” 0 Only "a"
Only “a & e” 2 (a & c)
Only “d” 0 (a & b)
Only “a” 2 (a & c)
Only “e” 0 (a & c)
Only “a & e” 2 (a & c)
Only “d” 0 (a, b, c & d)
c) Variable cost exist bothc)inVariable
short run
cost
andexist
longboth
run
c.inthe
short
fixed
run
cost
andis long
higher
runc.
than
thethe
fixed
variable
cost is cost;
higher than the variable cost;
d) ... d) ... d. the variable cost is higherd. the
than
variable
the fixed
costcost.
is higher than the fixed cost
0 (a,b,c) 0
0 (a,d) 0
0 (a,b,c) 0
0 (b,c,d) 0
0 (a,c) 0
0 (a,c) 0
0 (a,d) 0
0 (b,c) 2
0 None of these 0
0 (b,c,d) 0
0 (b,c) 2
0 (b,c,d) 0
0 (a,c) 0
0 (a,b,c) 0
0 (b,c) 2
0 (a,c) 0
0 (a,b,c) 0
0 (b,c,d) 0
0 (a,d) 0
0 (a,d) 0
0 (a,c) 0
0 (b,c,d) 0
0 (b,c) 2
0 (a,b,c) 0
2 (a,c) 0
0 (a,b,c) 0
0 (b,c,d) 0
2 (a,c) 0
0 (a,c) 0
0 (a,d) 0
0 (a,c) 0
0 (a,c) 0
0 (b,c) 2
0 (a,c) 0
0 (a,d) 0
0 (a,c) 0
c. the fixed cost is higher than the variable cost;
d. the variable cost is higher
Calculate
than the
thefixed
average
cost.fixePoints - Calculate the aveFeedback - Calculate the
None of these 0
10 0
200 0
200 0
20 2
20 2
1060 0
None of these 0
200 0
20 2
200 0
1060 0
1060 0
20 2
None of these 0
200 0
200 0
200 0
20 2
10 0
None of these 0
None of these 0
None of these 0
200 0
200 0
None of these 0
1060 0
200 0
200 0
200 0
None of these 0
1060 0
20 2
200 0
None of these 0
10 0
Calculate the variable cosPoints - Calculate the varFeedback - Calculate the W
v hich of the following st
410 2 monopoly involves a singl
210 0 monopolistic competition
None of these 0 monopolistic competition
410 2 the oligopoly involves se
410 2 the oligopoly involves se
210 0 None of these
410 2 None of these
210 0 None of these
Points - Which of the follFeedback - Which of the O
f n the market with perfePoints - On the market w
0 the firm is a "price-make 0
0 the firm is a "price-taker 1
0 input barriers are minima 0
0 None of these 0
0 input barriers are minima 0
2 the companies’ products a 0
Feedback - On the marketWhich of the following coPoints - Which of the fol Feedback - Which of the
producers` profits are hi 0
producers` profits are sm 0
individual demand is perfe 1
None of these 0
None of these 0
total supply is inelastic 0
None of these 0
The profit maximization co
Points - The profit maximiFeedback - The profit maxi
Which of the following s
MC = P 0 there is only one produc
MR = ATC 0 there is only one produc
MR = MC 1 input barriers are low.
MR = MC 1 there are no competitors
MC = P 0 there is only one produc
MR = MC 1 there are several compan
MR = ATC 0 there are no competitors
MR = ATC 0 None of these
MC = P 0 there are no competitors
MR = MC 1 there is only one produc
MC = P 0 there are no competitors
None of these 0 there are no competitors
MR = ATC 0 input barriers are low.
MR = MC 1 input barriers are low.
None of these 0 there are several compan
Points - Which of the fo Feedback - Which of the There are differences be Points - There are diffe
0 homogeneity of products 1
0 market entry 1
1 the market power of com 1
0 None of these 1
1 market entry 1
0 the number of sellers an 1
0 None of these 1
1 market entry 1
1 market entry 1
1 None of these 1
1 market entry 1
0 None of these 1
0 market entry 1
Feedback - There are dif Which of the following caPoints - Which of the fol Feedback - Which of the f
may be positive or negat 1
are characterized by non- 1
are characterized by exclu 1
are state-owned 1
are state-owned 1
are state-owned 1
None of these 1
Normally, the natural ec Points - Normally, the naFeedback - Normally, theWhich of the following f
perfect competition 0 do not disappear momentar
the satisfaction of the i 1 do not disappear momentar
the satisfaction of the i 1 are unlimited in number
the satisfaction of the i 1 are not concurrent
None of these 0 do not disappear momentar
the preponderance of pr 0 are unlimited in number
the preponderance of pr 0 do not disappear momentar
the preponderance of pr 0 do not disappear momentar
price formation through 0 are unlimited in number
the satisfaction of the i 1 are unlimited in capacity
price formation through 0 do not disappear momentar
price formation through 0 do not disappear momentar
Points - Which of the fo Feedback - Which of the Economic scarcity arises Points - Economic scarcit
0 limited wants and limitle 0
0 limited resources and lim 1
0 exploration 0
0 None of these 0
0 None of these 0
Feedback - Economic scarFundamental economic pr Points - Fundamental ecoFeedback - Fundamental
our wants exceeding our 1
turmoil in the stock mark 0
the unequal distribution 0
None of these 0
the fact that society has 0
turmoil in the stock mark 0
The study of the decisionPoints - The study of the Feedback - The study of tThe branch of economics
microeconomics. 1 macroeconomics.
microeconomics. 1 microeconomics.
macroeconomics. 0 macroeconomics.
microeconomics. 1 microeconomics.
microeconomics. 1 None of these
Points - The branch of ecFeedback - The branch ofWhich of the following isPoints - Which of the fol
1 land, labor, the price sys 0
1 only land and labor. 0
1 the inputs used to produ 1
1 None of these 0
1 the fundamental source 0
1 None of these 0
1 None of these 0
Feedback - Which of the fOpportunity cost is best Points - Opportunity costFeedback - Opportunity co
all the alternatives that 0
None of these 0
None of these 0
the highest-valued altern 1
None of these 0
None of these 0
None of these 0
None of these 0
None of these 0
None of these 0
None of these 0
how much money is paid 0
None of these 0
None of these 0
Statistics for $35,000.00 aStatistics
year. Thefortwo
$35,000.00
other offers
aStatistics
year.
youThe
received
fortwo
$35,000.00
other
were offers
working
a year.
youfor
The
received
Wal-Mart
two other
were offers
workingyoufor
received
Wal-Mart
were
for $28,000 a... for $28,000 a... for $28,000 a... The marginal benefit is t
the $32,000 you would h 0 loss of the highest-valued
the $35,000 you are paid 0 additional gain from one
the $32,000 you would h 1 additional gain from one
None of these 0 additional gain from one
None of these 0 additional cost from one
the $32,000 you would h 1 loss of the highest-valued
Points - The marginal bene
Feedback - The marginal A
b cost due to an increasePoints
i - A cost due to an i
0 The total cost 0
1 a marginal cost. 1
1 an incentive loss. 0
1 The total cost 0
1 The total cost 0
A lawn service is decidingPoints
whether
- A lawn
to addservice
an additional
is Feedback
deciding
employee
whether
- A lawntoto
service
itsadd
summer
anis additional
deciding
crew. The
whether
employet
Feedback - A cost due to marginal
a cost of hiring this
marginal
workercost
depends
of hiring
on the
this
marginal
workercost
depends
of hiring
on the
this worker depends on t
total amount paid to the 1
the additional revenue c 0
total amount paid to prev 0
the total amount paid to 0
None of these 0
total amount paid to prev 0
To decide whether to go Points - To decide whetheFeedback - To decide wheA positive statement is
compare marginal cost to 1 what should be but is not
not make the post hoc fal 0 what is.
compare marginal cost to 1 what is.
compare marginal cost to 1 what is desirable.
compare marginal cost to 1 what should be but is not
not make the fallacy of c 0 None of these
unscramble cause and eff 0 what is desirable.
not make the fallacy of c 0 what is and what should
compare marginal cost to 1 what is and what should
not make the fallacy of c 0 what should be but is not
unscramble cause and eff 0 what is.
not make the fallacy of c 0 what is.
not make the fallacy of c 0 what is and what should
not make the fallacy of c 0 what is desirable.
not make the fallacy of c 0 what is desirable.
not make the fallacy of c 0 what should be but is not
Points - A positive state Feedback - A positive st Normative economic sta Points - Normative econ
0 deal with economic hypot 0
1 describe what is rather t 0
0 describe what ought to b 1
Feedback - Normative ecThe statement "Unemploym
Points - The statement " Feedback - The statement
a prediction. 0
a positive statement. 0
a normative statement. 1
a prediction. 0
an assumption. 0
a prediction. 0
If total revenue rises by Points - If total revenue Feedback - If total reven Income elasticity of dem
Demand is perfectly inela 0 Substitute goods
Demand is price inelastic 1 Normal goods
Demand is price inelastic 1 Inferior goods
Demand is price inelastic 1 Complementary goods
Demand is price elastic 0 Inferior goods
Demand is price elastic 0 Substitute goods
Demand is price inelastic 1 Substitute goods
Demand is unit elastic 0 Inferior goods
Demand is perfectly inela 0 Complementary goods
Demand is price elastic 0 Complementary goods
Points - Income elastici Feedback - Income elastiThe production possibilitPoints - The production po
0 the maximum amount of la 0
0 the maximum levels of pr 1
1 combinations of goods an 0
0 the maximum rate of growt 0
Suppose the country of Popcorn
Points - produces
Suppose the
onlycountry
jets
Feedback
andofcorn.
Popcorn
- Suppose
If Popcorn
produces
thecannot
country
only produce
jets
of and
Popcorn
any
corn.pro
If P
Feedback - The production
more jets without giving more
up corn,
jetswe
without
say that
giving
Popcorn
more
up corn,
has
jetswe
achieved
without
say that
giving
Popcorn
up corn,
has we
achieved
say that Po
the highest opportunity c 0
production efficiency. 1
the highest marginal bene 0
the lowest marginal cost. 0
tons of butter and 150 cars. The opportunity co
A reduction in the amou Points - A reduction in Feedback - A reduction A)
shifts the production poss 0 300 cars.
moves the economy's point 1 50 cars.
moves the economy's point 0 None of these
moves the economy's point 1 100 cars
moves the economy's point 0 100 cars
tons of butter and 150 cars.
tonsThe
of butter
opportunity
and 150
cost
cars.
of
The1The
figure
tonopportunity
of above
butter illustrates
is cost of
Points
1that
ton-ifThe
ofthis
butter
figure
country
isabove
wishes
illustrates
to havethat
C1 -from
if this cC
A) A) moving from point B to point movingA, itfrom
will point B to point A, it will
0 Require that all the une 0
0 Have to sacrifice m2 - m1 2
0 Have to find additional wo 0
0 In-sufficient information 0
0 In-sufficient information 0
0 Be unable to do so until 0
Feedback - The figure above illustrates that if this country wishes to have C1 -from C2 additional civilian goods (Butter) by
moving from point B to point
Increasing
A, it will
opportunity cos Points - Increasing opportFeedback - Increasing opp
the fact that it is more d 0
the fact that resources ar 1
None of these 0
firms' needs to produce p 0
firms' needs to produce p 0
None of these 0
taxes. 0
None of these 0
The fact of increasing oppPoints - The fact of incre Feedback - The fact of in In the above table, the op
shift outward over time. 0 80 cases of soda.
bow outward. 1 Option 2
bow outward. 1 15 cases of soda.
be a straight line. 0 0 cases of soda.
Points - In the above tablFeedback - In the above tWhen the price of a produPoints - When the price o
0 C) substitution effect w 0
0 income and substitution 1
2 D) substitution effect w 0
2 None of these 0
The reason the substitution
Points
effect
- The
works
reason
to encourage
the substitution
Feedback
a consumer
- effect
The reason
to
works
buythe
to
lessencourage
substitution
of a a effect
consum w
Feedback - When the price
product when its price increases
product is:
when its price increases
product is:
when its price increases is:
the real income of the c 0
the product is now relati 0
E) the product is now rela 2
other products are now r 0
for George. Suppose the for
price
George.
of pizzaSuppose
decreases.
the for
George's
price
George.
of pizza
consumption
Suppose
decreases.
the
ofGeorge's
price
compact
of pizza
consumption
decreases.ofGeorge's
compactconsumption
discs will: discs will: discs will: The total utility of a prod
increase due to a negativ 0 multiplying price times qu
None of these 0 summing the marginal util
increase due to the incom 1 summing the marginal util
increase due to the incom 1 multiplying price times qu
increase due to the incom 1 None of these
increase due to the substi 0 summing the marginal util
remain unchanged, since t 0 summing the marginal util
increase due to a negativ 0 summing the marginal util
increase due to the incom 1 multiplying the marginal
None of these 0 summing the marginal util
increase due to the incom 1 None of these
increase due to the incom 1 multiplying the marginal
Points - The total utility Feedback - The total utiliWhich of the following dePoints - Which of the foll
0 the additional satisfact 1
0 the total satisfaction re 0
0 the total satisfaction re 0
0 the maximum amount of s 1
Feedback - Which of the fWhich best expresses thePoints - Which best expreFeedback - Which best exp
The less consumption of a 0
The more consumption of a 0
Which situation is consistent
Points
with
- Which
the law
situation
of diminishing
isFeedback
consistent
marginal
- Which
withutility?
the
situation
lawChildren
of isdiminishing
consistent
who refuse
marginal
with to
theeat
utility?
lawBrussels
of diminishing
sproutsmar
at d
A) A) A) the marginal utility of Brussels sprouts is:
The more pizza Usman eat 0 less than the total utility.
Usman's marginal utility 0 negative.
The more pizza Usman eats 1 negative.
The more pizza Usman eat 0 negative.
None of these 0 negative.
The more pizza Usman eat 0 zero.
The more pizza Usman eats 1 less than the total utility.
The more pizza Usman eats 1 zero.
The more pizza Usman eats 1 positive, but decreasing.
The more pizza Usman eat 0 positive, but decreasing.
The more pizza Usman eats 1 positive, but decreasing.
Usman's marginal utility 0 less than the total utility.
None of these 0 negative.
Usman's marginal utility 0 zero.
Points - Children who refuse
Feedback
to eat -Brussels
Childrensprouts
who refuse
at dinner
to eat
are
Brussels
makingsprouts
the statement
at dinnerthat
are making the statement that
the marginal utility of Brussels
the marginal
sproutsutility
is: of Brussels
Whensprouts
marginal
is:utility is de
Points - When marginal util
0 decreasing at an increasi 0
1 increasing at a decreasing 1
1 increasing at an increasin 0
1 None of these 0
0 decreasing at a decreasin 0
1 decreasing at a decreasin 0
1 None of these 0
Feedback - When marginal
A consumer
u with a fixed Points - A consumer withFeedback - A consumer wi
total utility is the same 0
marginal utility per dolla 1
marginal utility of each 0
marginal ut ility per dol 0
None of these 0
None of these 0
None of these 0
marginal utility per dollar spent on product Beta
If a rational consumer is Points - If a rational con Feedback - If a rational c income on these two produc...
the marginal utility obta 0 increase total utility by
the marginal utility per l 1 increase total utility by
the marginal utility per l 1 None of these
None of these 0 increase total utility by
total utility becomes zero 0 maximize marginal utility
a reallocation of income 0 maximize total utility but
the marginal utility per l 1 maximize marginal utility
the marginal utility per l 1 maximize total utility but
a reallocation of income 0 increase total utility by
the marginal utility per l 1 maximize marginal utility
marginal utility per dollarmarginal
spent onutility
productperBeta,
dollarconsumers
spent on product
who spendBeta,allconsumers
their who spend all their
income on these two produc...
income on these two produc...
Laboratory (or controlle Points - Laboratory (or
1 Economics is a natural sc 0
1 Economics is a social sci 1
1 Of resource scarcity 0
1 None of these 0
1 Of the difficulty of dist 0
0 None of these 0
0 None of these 0
Feedback - Laboratory (oThe former Soviet Union Points - The former Sovi Feedback - The former S
A planned economy 1
Dictatorship 0
A planned economy 1
A planned economy 1
A planned economy 1
Dictatorship 0
A planned economy 1
A planned economy 1
A planned economy 1
Dictatorship 0
Dictatorship 0
A planned economy 1
Dictatorship 0
Dictatorship 0
A planned economy 1
A planned economy 1
A planned economy 1
Dictatorship 0
Dictatorship 0
None of these 0
Dictatorship 0
A mixed economy 0
None of these 0
Dictatorship 0
A mixed economy 0
None of these 0
A planned economy 1
A planned economy 1
Dictatorship 0
None of these 0
A planned economy 1
A planned economy 1
Dictatorship 0
Dictatorship 0
A planned economy 1
Dictatorship 0
(a) Comparing the net benefit
(a) Comparing
of a choice
the
with
netthe
benefit
(a)
total
Comparing
of
net
a choice
benefit
the
with
foregone
netthe
benefit
(b)
total
ofThe
all
of
net
distinction
the
a choice
benefit
alternatives
with
foregone
between
thecombined
total
of
micro
all
netthe
and
benefit
alternative
macroec
foreg
(b) Weighing up total costs
(b)a...
Weighing up total costs(b)a...
Weighing up total costs(c)a...
Efficient, infeasible and ine...
The best answer is “b” & 0 Only “e”
Only “d” is correct answe 0 Only “e”
Only “c” 0 The best answer is “b” &
Only “d” is correct answe 0 Only “a”, “b” & “c”
Only “e” 0 Only “e”
Only “c”, “d” 2 Only “a”, “b” & “c”
The best answer is “b” & 0 Only “e”
Only “c”, “d” 2 Only “a”, “b” & “c”
Only “c” & “a” 0 Only “a”, “b” & “c”
The best answer is “b” & 0 Only “a”, “b” & “c”
Only “c” & “a” 0 Only “a”, “b” & “c”
Only “c”, “d” 2 Only “a”, “b” & “c”
Only “c” 0 Only “a”, “b” & “c”
Only “c” & “a” 0 Only “c” & “e”
None of these 0 Only “b”
Only “e” 0 Only “d” is correct answe
Only “d” is correct answe 0 The best answer is “b” &
Only “e” 0 Only “a”, “b” & “c”
The best answer is “b” & 0 Only “b”
The best answer is “b” & 0 The best answer is “b” &
Only “e” 0 Only “a”, “b” & “c”
Only “e” 0 Only “b”
Only “c” 0 Only “e”
Only “d” is correct answe 0 Only “a”, “b” & “c”
None of these 0 Only “c” & “e”
(b) The distinction between (b) micro
The distinction
and macroeconomics
between(c) Goods
micro and
markets
macroeconomics
(c) Goods markets
(c) Efficient, infeasible and(c)ine...
Efficient, infeasible and
d)ine...
Substitute and perfectly...
d) Substitute and perfectly...
0 Only “e” 0
0 Only “a”, “b” & “c” 2
0 Only “a”, “b” & “c” 2
2 Only “a”, “b” & “c” 2
0 Only “e” 0
0 Only “d” is correct answe 0
2 Only “a”, “b” & “c” 2
0 Only “a”, “b” & “c” 2
2 Only “a”, “b” & “c” 2
0 Only “a”, “b” & “c” 2
2 None of these 0
0 Only “b” 0
0 Only “a”, “b” & “c” 2
2 Only “a”, “b” & “c” 2
2 The best answer is “b” & 0
2 Only “a”, “b” & “c” 2
0 Only “a”, “b” & “c” 2
0 The best answer is “b” & 0
0 Only “c” & “e” 0
0 Only “a”, “b” & “c” 2
0 Only “b” 0
0 Only “e” 0
0 Only “a”, “b” & “c” 2
2 Only “c” & “e” 0
0 Only “a”, “b” & “c” 2
0 None of these 0
2 Only “e” 0
0 None of these 0
0 Only “c” & “e” 0
0 Only “a”, “b” & “c” 2
2 Only “a”, “b” & “c” 2
0 Only “e” 0
0 Only “b” 0
(c) Goods markets (c) As prices fall, demand(c)
increases
As prices fall, demand(c)
increases
As prices fall, demand increases
d) Substitute and perfectly...
(d) As prices rise, qu... (d) As prices rise, qu... (d) As prices rise, qu...
Only “c”, “d” & “e” 0
Only “e” 0
Only “a” & “b” are corre 2
Only “c” & “e” 0
Only “e” 0
Only “c” & “e” 0
None of these 0
Only “e” 0
None of these 0
Only “c” & “e” 0
Only “c”, “d” & “e” 0
The best answer is “b” & 0
Only “c” & “e” 0
Only “c”, “d” & “e” 0
Only “e” 0
Only “c” & “e” 0
Only “e” 0
Only “c” 0
Demand curves in P-Q spa Points - Demand curves iFeedback - Demand curves
Suppose the demand for g
Incomes, tastes, and the 0 Complements
Incomes, tastes, and the 0 Unrelated goods
Incomes and tastes 0 Complements
Incomes, tastes, and the 0 Substitutes
Incomes, tastes, the pric 2 Inferior goods
Consumer tastes and the 0 Substitutes
Incomes, tastes, the pric 2 Substitutes
Incomes, tastes, and the 0 Inferior goods
Consumer tastes and the 0 Complements
Incomes, tastes, the pric 2 Inferior goods
Incomes, tastes, the pric 2 Complements
Consumer tastes and the 0 Inferior goods
Points - Suppose the demFeedback - Suppose the dIf the demand for coffee Points - If the demand fo
0 A normal good 0
0 A normal good 0
0 A substitute good 0
0 An inferior good 1
1 A complementary good 0
0 A normal good 0
1 A normal good 0
0 A normal good 0
(b) A change in wealth (b) A change in wealth (b) A change in wealth
Feedback - If the demandc) A decrease in the pricec)o...
A decrease in the pricec)o...
A decrease in the price o...
Only “d” is correct answe 0
Only “c”, “d” & “f” 2
Only “c” & “e” 0
Only “c” 0
Only “e” 0
Only “c” & “e” 0
Only “c” & “e” 0
Only “e” 0
Only “c”, “d” & “f” 2
Only “c” & “e” 0
Only “c”, “d” & “f” 2
Only “e” 0
Only “e” 0
Only “c” 0
Only “e” 0
Only “c”, “d” & “f” 2
Only “c” & “e” 0
Only “e” 0
Only “e” 0
Only “e” 0
Only “e” 0
Only “e” 0
Only “c” & “e” 0
(a) As the price of calculators
(a) Asrises,
the price
the supply
of calculators
of calculators
(a) Asrises,
the price
the
increases,
supply
of calculators
ceteris
of calculators
paribus
rises, the
increases,
supply ceteris
of calculators
paribusincreases, ce
(b) As the price of calculators
(b) Asfalls,
the th...
price of calculators
(b) Asfalls,
the th...
price of calculators
The price
falls, of
th...
computer ch
Only “c” 0 An increase in the quanti
Only “e” 0 A decrease in the quantit
The best answer is “b” & 0 An increase in the supply
Only “c” & “e” 2 An increase in the supply
None of these 0 An increase in the supply
Only “d” is correct answe 0 An increase in the supply
Only “c” 0 A decrease in the quantit
Only “c” & “e” 2 A decrease in the supply
Only “c” & “e” 2 An increase in the quanti
The best answer is “b” & 0 An increase in the quanti
Only “c” & “d” 0 An increase in the quanti
Only “c” & “d” 0 A decrease in the quantit
Only “e” 0 An increase in the quanti
Only “c” & “d” 0 An increase in the supply
Only “c” 0 An increase in the supply
The best answer is “b” & 0 An increase in the supply
The best answer is “b” & 0 A decrease in the supply
Only “c” & “d” 0 An increase in the supply
Only “c” & “d” 0 An increase in the quanti
The best answer is “b” & 0 A decrease in the supply
Only “e” 0 A decrease in the quantit
Only “e” 0 An increase in the supply
Points - The price of co Feedback - The price of When there is an excess Points - When there is an
0 Quantity demanded to in 0
0 Price to rise 0
1 Price to rise 0
1 Price to rise 0
1 Price to rise 0
1 Price to rise 0
1 Price to rise 0
0 Price to rise 0
1 Price to rise 0
0 Price to fall 0
0 Price to rise 0
0 Price to rise 0
1 Price to rise 0
1 Price to rise 0
1 Price to rise 0
0 Price to rise 0
1 Price to rise 0
1 Price to rise 0
1 Price to rise 0
0 Price to rise 0
1 Price remains same 2
0 Price to fall 0
1 Price to fall 0
1 Price to rise 0
0 Price to rise 0
0 Price remains same 2
1 Price to rise 0
0 Price to rise 0
0 Price to fall 0
1 Price to rise 0
Feedback - When there isEquilibrium in the marketPoints - Equilibrium in t Feedback - Equilibrium i
None of these 0
None of these 0
When there is no surplus 2
None of these 0
None of these 0
None of these 0
None of these 0
None of these 0
None of these 0
When all of what is prod 0
All of these 0
None of these 0
None of these 0
None of these 0
None of these 0
All of these 0
None of these 0
None of these 0
None of these 0
None of these 0
When all of what is prod 0
(b) A fall in income (b) A fall in income (b) A fall in income (b) a fall in income
(c) An increase in the price
(c)ofAna increase
complem...
in the price
(c)ofAna increase
complem...
in the price
(c)ofA achange
complem...
in tastes such that...
Only “b” & “d” 0 Only “c” & “d”
Only “a” 0 Only “d” is correct answe
None of these 0 Only “a”
Only “e” 0 The best answer is “b” &
Only “a” 0 Only “a”
Only “a” 0 None of these
Only “a” 0 Only “e”
Only “e” 0 Only “b” & “d”
Only “c” & “b” 2 Only “d” is correct answe
Only “a” 0 Only “c” & “d”
Only “c” & “b” 2 Only “e”
Only “e” 0 Only “c” & “d”
Only “c” & “b” 2 Only “a”
Only “b” & “d” 0 Only “b” & “d”
Only “b” & “d” 0 Only “a”
Only “c” & “b” 2 The best answer is “b” &
Only “b” & “d” 0 Only “b” & “d”
Only “a” 0 Only “d” is correct answe
Only “c” & “b” 2 Only “b” & “d”
Only “d” is correct answe 0 Only “c” & “d”
(b) a fall in income (b) a fall in income
(c) A change in tastes such
(c)that...
A change in tastes such
A movement
that... along the dem
Points - A movement alon
0 A fall in the number of s 0
0 A rise in the price of a 0
0 An increase in supply 0
0 A rise in income 0
0 a decrease in supply 2
0 a decrease in supply 2
Feedback - A movement Interferences
al with the opPoints - Interferences wi Feedback - Interferences
Price fixing 0
Price fixing 0
Price rationing 2
Price and quantity ration 0
Price fixing 0
Quantity adjustment 0
Price fixing 0
Quantity setting 0
Price rationing 2
Quantity setting 0
Price fixing 0
Price fixing 0
Quantity setting 0
Price rationing 2
Price fixing 0
Price rationing 2
Price fixing 0
Price rationing 2
Price rationing 2
Price fixing 0
Price fixing 0
Price fixing 0
What will happen to equilPoints - What will happenFeedback - What will happ
Hint/Information: An equi
Price falls unambiguousl 2 The effect on both price
Price falls unambiguousl 2 Price falls unambiguousl
Both price and quantity 0 Price falls unambiguousl
Quantity falls unambiguo 0 Both price and quantity
Both price and quantity 0 Both price and quantity
The effect on both price 0 Both price and quantity
Quantity falls unambiguo 0 Quantity falls unambiguo
Quantity falls unambiguo 0 Price falls unambiguousl
Price falls unambiguousl 2 Both price and quantity
Price falls unambiguousl 2 Quantity falls unambiguo
Quantity falls unambiguo 0 The effect on both price
Both price and quantity 0 Quantity falls unambiguo
Quantity falls unambiguo 0 Quantity falls unambiguo
Price falls unambiguousl 2 Price falls unambiguousl
Price falls unambiguousl 2 The effect on both price
The effect on both price 0 Price falls unambiguousl
Both price and quantity 0 The effect on both price
Price falls unambiguousl 2 Quantity falls unambiguo
Points - Hint/InformationFeedback - Hint/InformatiA price ceiling imposed Points - A price ceiling
0 When the price ceiling is 0
2 Either of these 0
Feedback - A price ceili What is the effect of an uPoints - What is the effecFeedback - What is the eff
Both price and quantity r 0
Price rises, and quantity f 0
Both price and quantity fa 0
Price falls, quantity raise 2
The need for rationing a Points - The need for ra Feedback - The need for If the “regulated-market”
A surplus exists 0 Quantity demanded will b
A surplus exists 0 Demand will be less than
A surplus exists 0 The quantity demanded wi
There is a perfectly inel 0 Quantity demanded will b
Demand exceeds supply 0 The quantity demanded wi
Supply exceeds demand 2 Quantity demanded will e
A surplus exists 0 Quantity demanded will e
Demand exceeds supply 0 Demand will be less than
Demand exceeds supply 0 The quantity demanded wi
There is a perfectly inel 0 The quantity demanded wi
Demand exceeds supply 0 Quantity demanded will b
There is a perfectly inel 0 Demand will be less than
Supply exceeds demand 2 The quantity demanded wi
Demand exceeds supply 0 Quantity demanded will e
Points - If the “regulate Feedback - If the “regula The furniture business is Points - The furniture bu
2 Are inferior goods 2
0 Have many complementa 0
2 Are complementary good 0
0 Have few complementary 0
2 Are normal goods 0
0 Have few substitutes 0
Feedback - The furniture Since the beginning of thPoints - Since the beginnFeedback - Since the begi
Inferior 0
Normal 0
Complements 2
Complements 2
Substitutes 0
Complements 2
Inferior 0
Inferior 0
Complements 2
Complements 2
Inferior 0
Complements 2
Substitutes 0
Substitutes 0
Substitutes 0
Inferior 0
Complements 2
Inferior 0
Complements 2
Substitutes 0
Substitutes 0
Complements 2
Inferior 0
Inferior 0
Complements 2
Inferior 0
Substitutes 0
Complements 2
Complements 2
Complements 2
Substitutes 0
Complements 2
Normal 0
Substitutes 0
Normal 0
Complements 2
Read the following passagPoints - Read the followinFeedback - Read the folloThe coefficient of price e
Must have been decrease 0 Elastic
Elastic 0 Elastic
Perfectly inelastic 2 Elastic
Perfectly elastic 0 Perfectly elastic
Elasticity cannot be dete 0 Inelastic
Inelastic 0 Elastic
Must have been decrease 0 Inelastic
Inelastic 0 Elastic
Must have been decrease 0 Unitariy elastic
Perfectly elastic 0 Elastic
Elasticity cannot be dete 0 Perfectly elastic
Elasticity cannot be dete 0 Perfectly elastic
Inelastic 0 Perfectly elastic
Inelastic 0 Perfectly elastic
Must have been decrease 0 Perfectly elastic
Inelastic 0 Elastic
Inelastic 0 Elastic
Elastic 0 Inelastic
Elastic 0 Inelastic
Perfectly inelastic 2 Unitariy elastic
Elastic 0 Inelastic
Elastic 0 Elastic
Points - The coefficient oFeedback - The coefficient
The coefficient of cross Points - The coefficient
0 Substitutes 2
0 Unrelated goods 0
0 Substitutes 2
0 Unrelated goods 0
0 Complements 0
2 Complements 0
0 Unrelated goods 0
0 Complements 0
0 Normal goods 0
2 Normal goods 0
0 Normal goods 0
0 Substitutes 2
0 Substitutes 2
0 Unrelated goods 0
0 Normal goods 0
0 Complements 0
0 Unrelated goods 0
0 Normal goods 0
0 Normal goods 0
0 Complements 0
0 Unrelated goods 0
0 Substitutes 2
0 Complements 0
0 Normal goods 0
0 Normal goods 0
0 Complements 0
0 Substitutes 2
0 Substitutes 2
2 Normal goods 0
2 Unrelated goods 0
0 Substitutes 2
0 Normal goods 0
0 Complements 0
0 Substitutes 2
2 Unrelated goods 0
0 Normal goods 0
Feedback - The coefficie If the quantity demandedPoints - If the quantity Feedback - If the quantity demanded of beef inc
4.17 0
0.24 2
0.23 0
0.24 2
0.24 2
0.24 2
0.24 2
4.17 0
0.24 2
0.24 2
0.24 2
4.17 0
0.24 2
0.24 2
0.24 2
0.24 2
0.24 2
0.24 2
0.24 2
0.23 0
0.24 2
0.24 2
-0.25 0
0.24 2
0.24 2
4.17 0
4.17 0
0.24 2
0.24 2
-0.24 0
0.24 2
0.25 0
0.24 2
0.24 2
0.24 2
0.23 0
ty demanded of beef increases by 6% when the price of chicken increases by 25%, the cross-price elasticity of demand between beef a
of demand between beef and chicken is?

Terminal Examination, Micro-Economics, BSBA II (Evening), Spring 2020 (1-36)

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Terminal Examination, Micro-Economics, BSBA II (Evening), Spring 2020 (1-36)

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