Download AGEC 105 EQ8 October 17, 2012 This EQ is worth 4 points.

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Transcript 
AGEC 105
EQ #9
October 16, 2013
This EQ is worth 3 points.
Question 1

Point
Price
Quantity
Supplied
A
1
2
B
2
3
C
3
6
D
4
8
Question 2

P
S
$4
$2
30
Q (million)
30
profits or economic rent
Question 3
(1/2pt) Given the diagram below, define Pe and Qe.
Psoybeans
S
Pe
D
Qe
Qsoybeans
Pe  equilibrium or market clearing price
Qe  equilibrium or market clearing quantity
Random Question:
Name one of the three economists who were
awarded the Nobel Prize in 2013.
Fama – University of Chicago
Hansen – University of Chicago
Shiller – Yale University
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