Intl Micro ECN 160A
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This 2 page Class Notes was uploaded by Madie Schinner on Tuesday September 8, 2015. The Class Notes belongs to ECN 160A at University of California - Davis taught by Farshid Hosseini in Fall. Since its upload, it has received 51 views. For similar materials see /class/191872/ecn-160a-university-of-california-davis in Economcs at University of California - Davis.
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Date Created: 09/08/15
ECON 1B Microeconomics worksheet 1 ch35 Dr Sung H Kim NAME Q1 What effect will each of the following have on equilibrium price and quantity for product B Brie y analyze the following questions using demand and supply curves a The price of complementary product D falls Zpts b A is an input used to produce good B and the price of A decreases Zpts c Suppose that the price of B expect to increase next week Zpts Q2 The following table shows the price elasticity of demand for new car and coffee Products Price elasticity of New car 20 Coffee 05 a According to the elasticity computation by how much would new car sales quantities fall if the price increased 20 percent What about total revenue Increase or decrease Explain 3pts b By how much would coffee sales entire coffee market decline if the price of coffee doubled 100 If Starbucks a specific brand of coffee doubled its coffee price what would happen to Starbucks sales How do you explain these responses 3pts Q3 Anita consumes both pizza and Pepsi The following tables show the amount of utility she obtains from the different amounts of these two goods a Fill out the above table lpt b Suppose Pepsi costs 1 per can pizza costs 2 per slice and Anita has 11 to spend on food and drink What combination of pizza and Pepsi will maximize her total utility Show all your work 2pts
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