ECON 1B03 Study Guide - Midterm Guide: National Endowment For The Humanities, Non-Line-Of-Sight Propagation, Overhead Camshaft
46
ECON 1B03 Full Course Notes
Verified Note
46 documents
Document Summary
Make sure you carefully fill in the bubbles. You must fill in your student number, version number and. Section number on the scan sheet or your grade will not be recorded. Hand in the scan sheet, your rough work paper and this test copy. Figure 1. 1. 1. 1. the optimum amount of this product from society"s standpoint would be. Figure 1. 1. 1. 1. if this market currently produces q3, total economic well-being would be increased if. Figure: production decreased to q2, production increased to q4. c, since well-being is maximized at q3 it cannot be increased. this product were no longer produced. Figure 1. 1. 1. 1. if this market is currently producing at q4, then total economic well-being would increase. Figure increased. if output a: decreased to q2, decreased to zero. d. stayed at q4. 5. shift to the right. shift to the left. Internalizing a positive externality will cause the supply curve of an industry to a. b: become more elastic. d. remain unchanged.
