ECON 2020 Midterm: exam 1 fink
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Directions: read each question and every possible answer very carefully. Use the following demand and supply schedules to answer question 1. Use the following figure to answer questions 5 8. ; 1000: ; 800, ; 1000, ; 500, ; 800, equilibrium occurs in this market at a price of ____ and quantity of _____ units. A. a surplus: protection from imports, a shortage, a and b only, b and c only. Use brick"s supply of hand grenades to answer questions 12 - 13. A. supply decreases: there is a shortage at the old price, equilibrium price decreases, equilibrium quantity decreases, i"m ron burgundy? , wes mantooth is getting ready for news team poker night at his apartment. If he wasn"t having poker night, then he could have made working the late night news broadcast. He spent on cigars, on snacks, and on drinks.