Supply and Demand

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PRICES & MARKETS
Tutorial Exercises and Supplementary Materials

RMIT University

This document has been prepared for use in the Prices & Markets course at RMIT UniA versity. The file was compiled using L TEX, an open source typesetting system, and is viewable in all standards compliant PDF viewers. The PDF has been formatted for two-sided printing. Please address any queries to: pricesandmarkets@rmit.edu.au

Copyright Martin C. Byford (2012). This version compiled on Thursday 6th December, 2012.

Contents

Using This Volume 1 Introduction to Demand and Supply 1.1 Quiz . . . . . . . . . . . . . . . . . . 1.2 Group Exercise . . . . . . . . . . . . 1.3 Homework Questions . . . . . . . . . 1.4 Homework Solutions . . . . . . . . . 2 Elasticity 2.1 Quiz . . . . . . . . . 2.2 Group Exercise . . . 2.3 Homework Questions 2.4 Homework Solutions

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3 Applications of Demand and Supply 3.1 Quiz . . . . . . . . . . . . . . . . . . 3.2 Group Exercise . . . . . . . . . . . . 3.3 Homework Questions . . . . . . . . . 3.4 Homework Solutions . . . . . . . . . 4 International Trade 4.1 Quiz . . . . . . . . . 4.2 Group Exercise . . . 4.3 Homework Questions 4.4 Homework Solutions 5 Market Failure 5.1 Quiz . . . . . . . . . 5.2 Group Exercise . . . 5.3 Homework Questions 5.4 Homework Solutions 6 Utility 6.1 Quiz . . . . . . . . . 6.2 Group Exercise . . . 6.3 Homework Questions 6.4 Homework Solutions

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