ECON10004 Microeconomics 2011 past exam paper
THE UNIVERSITY OF MELBOURNE
DEPARTMENT OF ECONOMICS
SEMESTER 1 ASSESSMENT, 2011
ECON10004 INTRODUCTORY MICROECONOMICS
Time Allowed: TWO hours
Reading Time: 15 minutes
This examination paper contributes 60% to the assessment in ECON10004.
The Response Sheet for the multiple-choice questions should be inserted in the back of the examination script book at the end of the examination. For the multiple-choice questions, you may use the examination script books to make notes or calculations. These notes will NOT be taken into account for your assessment.
SECTION A: ANSWER ALL QUESTIONS
This section is worth 25% of the total exam marks.
Answer all questions. Fill in the small circle in the appropriate place with a 2B pencil on the Response Sheet. An incorrect answer, no answer, or more than one answer, will receive a zero mark.
SECTION B: ANSWER ALL QUESTIONS
This section is worth 25% of the total exam marks.
Answer all questions. Each question is worth equal marks.
SECTION C: ANSWER ALL QUESTIONS
This section is worth 50% of the total exam marks.
Answer all questions. Questions are worth different marks.
Other Instructions
Foreign/English language dictionaries are allowed into the examination room.
No other materials are allowed.
This exam paper may be removed from the examination room.
A copy of this exam paper will be held in the Baillieu Library.
This exam paper has 9 pages.
SECTION A
ANSWER ALL QUESTIONS IN THIS SECTION
This section is worth 25% of the total exam marks.
All questions in this section are worth the same number of marks.
For each question select the one BEST answer. Incorrect answers, multiple answers, or no answer, will receive zero.
Mark your answer on the Response Sheet.
1. The market for wheat is in equilibrium. Then a new technology is developed that improves production efficiency for wheat. We should expect that:
a) Supply of wheat will decrease, so that at the original
DEPARTMENT OF ECONOMICS
SEMESTER 1 ASSESSMENT, 2011
ECON10004 INTRODUCTORY MICROECONOMICS
Time Allowed: TWO hours
Reading Time: 15 minutes
This examination paper contributes 60% to the assessment in ECON10004.
The Response Sheet for the multiple-choice questions should be inserted in the back of the examination script book at the end of the examination. For the multiple-choice questions, you may use the examination script books to make notes or calculations. These notes will NOT be taken into account for your assessment.
SECTION A: ANSWER ALL QUESTIONS
This section is worth 25% of the total exam marks.
Answer all questions. Fill in the small circle in the appropriate place with a 2B pencil on the Response Sheet. An incorrect answer, no answer, or more than one answer, will receive a zero mark.
SECTION B: ANSWER ALL QUESTIONS
This section is worth 25% of the total exam marks.
Answer all questions. Each question is worth equal marks.
SECTION C: ANSWER ALL QUESTIONS
This section is worth 50% of the total exam marks.
Answer all questions. Questions are worth different marks.
Other Instructions
Foreign/English language dictionaries are allowed into the examination room.
No other materials are allowed.
This exam paper may be removed from the examination room.
A copy of this exam paper will be held in the Baillieu Library.
This exam paper has 9 pages.
SECTION A
ANSWER ALL QUESTIONS IN THIS SECTION
This section is worth 25% of the total exam marks.
All questions in this section are worth the same number of marks.
For each question select the one BEST answer. Incorrect answers, multiple answers, or no answer, will receive zero.
Mark your answer on the Response Sheet.
1. The market for wheat is in equilibrium. Then a new technology is developed that improves production efficiency for wheat. We should expect that:
a) Supply of wheat will decrease, so that at the original