1. Congress passes a tax 14. Government cuts federal cut
1-What is “demand”?
1-2 Modeling Relationships with variables
1-1 What is an opportunity cost? How does the idea relate to the
1-1 Nets and Drawings
1- Apple Inc. decides to make iTunes freely available in unlimited
1) Wants, as opposed to demands, A) are the unlimited desires of
1) Two manufacturing firms, A and B, create pollution as a byproduct
1) The supply curve for a good shows (for each quantity) the sellers`
1) Suppose a firm has a fixed proportion production function, f(L,K
1) Economics is the study of how people choose
1) Diamond – Water Paradox: A friend who hasn`t taken an
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1 UNIT I INTRODUCTION QUESTIONS BASED ON HOTS WITH
1 Unit 6. Firm behaviour and market structure: perfect competition
1 Unit 3. Elasticity Quiz 1. If a 3 percent change in price leads to a 5
1 Unit 2. Supply and demand Learning objectives to analyse the
1 Unit 10. Introduction to welfare economics Learning objectives: to
1 Theory of the firm in a nutshell A look at, and past, a purely
1 The U.S. Market System Every nation in the world must address
