Test Version A SEMESTER I EXAMINATIONS Mid-Term Assessment ECON 30110 Microeconomics II Time Allowed: 50 minutes Instructions for Candidates This exam counts for 30% of the Module Grade. All questions carry equal marks. Note there is NO negative marking Correct answer is worth 1 mark. No answer or more than one answer‚ will both receive a 0 mark. Incorrect answer will receive a 0 mark. Attempt all 20 questions. Shade in the box in the appropriate space with
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40 70 Graph: [10 points] Create a graph of your data for this part of the lab. You may use any graphing tool to create the graph‚ but be sure to follow common guidelines for creating a graph. INSERT GRAPH HERE Conclusion: Answer the following questions after completing the lab. 1) Describe the relationship that you observed between pressure and volume in this lab. Refer to your data and/or graph to help support your answer. [5 points] By the information displayed in the graph‚ it shows
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567 D. 0.195 6. At which x-value over the interval (0‚ 2] does the graph of f have a relative minimum? (refer to f ’ in #5) A. 1.938 B. 1.146 C. 0.368 D. 1.571 E. 0.567 7. At which x-coordinate below does the graph of f (for f ’ defined in #5) change concavity over the interval (0‚ 2]? A. 1.938 B. 1.146 C. 0.667 D. 1.571 E. 0.567 8. At which interval is the graph of f (for f ’ defined in #5) concave up over the interval (0‚ 0.8]? A
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in the law of supply and demand. The actual concept is a little confusing to me‚ what I get from the concept is that we use elasticity when we want to see how one thing changes when we change something else. How does demand for a good change when we change its price? How does the demand for a good change when the price of a substitute good changes? Price Elasticity of Demand measures the rate of response of quantity demanded due to a price change. The Price Elasticity of Supply measures the
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Essential Graphs for Microeconomics Basic Economic Concepts ( Production Possibilities Curve Nature & Functions of Product Markets ( Demand and Supply: Market clearing equilibrium (Floors and Ceilings (Consumer and Producer Surplus (Effect of Taxes Theory of the Firm (Short Run Cost (Long Run Cost
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it also has the highest housing price in the world. According to the 8th Annual Demographia International Housing Affordability Housing Affordability Survey’s report in 2011 which had been recommended by World Bank and the United Nations‚ Hong Kong had the most unaffordable housing in the survey with a median multiple of 12.6. Median multiple means median house price divided by gross annual median household income. To figure out the reasons which drive Hong Kong housing prices rise rapidly‚ this
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Trees and Graphs Pat Hanrahan Tree Drawing Page 1 Why Trees? Hierarchies File systems and web sites Organization charts Categorical classifications Similiarity and clustering Branching processes Genealogy and lineages Phylogenetic trees Decision processes Indices or search trees Decision trees Tournaments Two Major Visual Representations Connection: Node / Link Diagrams Containment / Enclosure F6 G6 H6 J36 U8 B10 C30 L7 M7 V12 O4 P4 Q4 R4 S4 T4 W8 Page
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mb Event Market affected by event Shift in supply‚ demand‚ or both. Explain your answer. Change in equilibrium Frozen orange crops in California Orange juice Supply (left)—Not as many available oranges to offer consumers. Price will increase and quantity will decrease. Hurricanes in the Gulf Coast Tourism Demand (left) because not as many people are going to want to travel there due to the Threat of hurricanes and the damage from a hurricane will make less availability of hotels. Price
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The Housing Choice Voucher Program (HCV) By Brittany Booth Throughout American history‚ the government has struggled to help its citizens in need of food and decent shelter to attain those things. Its constant struggle to house the poor has led to the creation of a department within the federal government devoted entirely to developing policies meant to provide affordable housing for low-income families. This department is known as HUD (U.S. Department of Housing and Urban Development). Through
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Housing markets are peculiar for a number of reasons. First‚ houses take time to build‚ so when demand rises‚ supply can only respond with a considerable lag What causes house prices to rise? Prices rise through a combination of factors on both the supply and demand side of the housing market. When demand is rising and the short run supply of housing available in the market is limited‚ it is quite easy for market values to be pushed significantly higher. Consider the diagram below which illustrates
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