Repaso De Econ
Páginas: 3 (643 palabras)
Publicado: 24 de noviembre de 2012
University of Puerto Rico-Arecibo
Department of Social Sciences
ECON 3021
Name: _____________________________________ Section: LB0 (MWF 8:00-9:00 am)
Homework #1 Due Date:September 28 2012
I. Short Answers: Be sure to present all labels in the graphs.
1. Show in a diagram the demand and supply curves.
2. Show in a diagram the initial market for smart phones.Then, show the impact of an increase on consumers’ income. Be sure to present initial and new market outcomes.
3. Show on a graph how an increase in the price of steel would affect the market forautomobiles.
4. Diagram the market situation for Dell laptops as production technology improves.
5. List 5 factors that affect the demand of goods and services.
a.
b.
c.
d.
e.
6.List 5 factors that affect the supply of goods and services.
a.
b.
c.
d.
e.
7. Does a change in the number of suppliers cause a movement alone the demand curve? Be precise and specific inyour answer.
8. List 5 examples of complements and 5 examples of substitutes.
Complements
a.
b.
c.
d.
e.
Substitutes
a.
b.
c.
d.
e.
9. Show on a graph how anincrease in costs of inputs would affect the market for energy.
10. As we already know, the quantity demanded tends to decrease while prices increase. List and elaborate about the two effectsdiscussed in class.
11. What does high price elasticity imply regarding sensitiveness toward price changes?
II. Multiple Choice:
______ 1. If the demand for penicillin is inelastic, an increasein penicillin prices leads to
a.) less total revenue for penicillin makers
b.) more total revenue for penicillin makers
c.) no change in total revenue for penicillin makers
d.) firsta decrease, then an increase in total revenue for penicillin makers
______ 2. In the market for cheese spread (e.g. Cheese Whiz), if there is an increase in the price
of...
Department of Social Sciences
ECON 3021
Name: _____________________________________ Section: LB0 (MWF 8:00-9:00 am)
Homework #1 Due Date:September 28 2012
I. Short Answers: Be sure to present all labels in the graphs.
1. Show in a diagram the demand and supply curves.
2. Show in a diagram the initial market for smart phones.Then, show the impact of an increase on consumers’ income. Be sure to present initial and new market outcomes.
3. Show on a graph how an increase in the price of steel would affect the market forautomobiles.
4. Diagram the market situation for Dell laptops as production technology improves.
5. List 5 factors that affect the demand of goods and services.
a.
b.
c.
d.
e.
6.List 5 factors that affect the supply of goods and services.
a.
b.
c.
d.
e.
7. Does a change in the number of suppliers cause a movement alone the demand curve? Be precise and specific inyour answer.
8. List 5 examples of complements and 5 examples of substitutes.
Complements
a.
b.
c.
d.
e.
Substitutes
a.
b.
c.
d.
e.
9. Show on a graph how anincrease in costs of inputs would affect the market for energy.
10. As we already know, the quantity demanded tends to decrease while prices increase. List and elaborate about the two effectsdiscussed in class.
11. What does high price elasticity imply regarding sensitiveness toward price changes?
II. Multiple Choice:
______ 1. If the demand for penicillin is inelastic, an increasein penicillin prices leads to
a.) less total revenue for penicillin makers
b.) more total revenue for penicillin makers
c.) no change in total revenue for penicillin makers
d.) firsta decrease, then an increase in total revenue for penicillin makers
______ 2. In the market for cheese spread (e.g. Cheese Whiz), if there is an increase in the price
of...
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