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ECON1002: Microeconomics Instructor: Qingbin Wang Final 
 
Instruction: Please choose the most appropriate answer and follow the instructions on Ulearn to submit your answers. The answers on the problem set will NOT be graded. 
Good luck! 
 
Please choose the most appropriate answer to each question. 
 
1.	The main determinant of elasticity of supply is the: 
A.	number of close substitutes for the product available to consumers. 
B.	amount of time the producer has to adjust inputs in response t...
MAFC 2505 Cancer & Oncology Nursing NCLEX Practice Quiz 2/MAFC 2505 Cancer & Oncology Nursing NCLEX Practice Quiz 2/MAFC 2505 Cancer & Oncology Nursing NCLEX Practice Quiz 2/MAFC 2505 Cancer & Oncology Nursing NCLEX Practice Quiz 2/MAFC 2505 Cancer & Oncology Nursing NCLEX Practice Quiz 2/MAFC 2505 Cancer & Oncology Nursing NCLEX Practice Quiz 2/MAFC 2505 Cancer & Oncology Nursing NCLEX Practice Quiz 2
ECON 1002: Microeconomics
Final


1.	The main determinant of elasticity of supply is the: 
A. 	number of close substitutes for the product available to consumers.
B. 	amount of time the producer has to adjust inputs in response to a price change.
C. 	urgency of consumer wants for the product.
D. 	number of uses for the product.

Use the following table to answer question 2
 
2.	Refer to the table. Over the $6-$4 price range, supply is: 
A. 	perfectly elastic.
B. 	elastic.
C. 	perfectly inelastic...
ECON1002: Microeconomics Exam2
 

1.	If many people in a community install fire hydrants, the whole community benefits including those that did not install it. Therefore, not enough people may decide to install the fire hydrant. This is one illustration of: 
A. The market allocating resources efficiently
B. Monopoly power due to lack of competition
C. Supply-side market failure
D. Demand-side market failure
 
2.	When a private firm provides fireworks, it could not produce the efficient amount of...
Lab on making a periodic table trend off of Mendeleev's method.
Lab on Mixtures and Solutions.
This is the first mandatory homework.
In depth summary of chapter 9 and 10. May or may not contain quiz review!
In depth summary of chapters 7 and 8 . May or may not contain quiz review!
In depth summary of notes on chapter 2. May or may not contain quiz review!