ECON 102 Reall exam questions with answers solution new updated materials liberty

Document Content and Description Below

ECON 102 Reall exam questions with answers solution new updated materials Question 1 1 / 1 pts The price of a hamburger at a fast food restaurant increases from $2.30 to $3.50. The law of demand p... redicts that Question 2 1 / 1 pts Which of the following are the best examples of complements? Question 3 0 / 1 pts In the above figure, a decrease in the price of a complement for a product is represented by Question 4 1 / 1 pts Which of the following is an example of the law of supply? Question 5 0 / 1 pts Each of the following would cause a decrease in the supply of corn EXCEPT Question 6 0 / 1 pts An increase in supply of housing could be caused by Question 7 0 / 1 pts In the above figure, at a price of $3.00, we have a surplus of Question 8 1 / 1 pts What happens to equilibrium price and quantity when the cost of production of a product increases? Question 9 1 / 1 pts In the above figure, if the supply curve moves from S0 to S1 and the demand curve remains at D0. which of the following statements is TRUE? Question 10 1 / 1 pts In the above figure, a price ceiling of $0.75 would result in [Show More]

Last updated: 1 year ago

Preview 1 out of 7 pages