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Econ 301 Study guides, Class notes & Summaries

Looking for the best study guides, study notes and summaries about Econ 301? On this page you'll find 26 study documents about Econ 301.

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ECON 301- Chapter 5, 6,7,13 & 14 Questions and Answers

  • ECON 301- Chapter 5, 6,7,13 & 14 Questions and Answers

  • Package deal • 5 items • 2021
  • TRUE/FALSE 1. Control of a scarce resource or input can serve as an entry barrier. ANS: T PTS: 1 2. A monopoly firm can sell as much output as it wants at whatever price it sets. ANS: F PTS: 1 3. Monopolies will tend to produce a greater quantity and charge higher prices than perfectly competitive industries. ANS: F PTS: 1 4. A profit-maximizing mo
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01-Chapter 7—Market Efficiency and Welfare . Questions and Answers

  • 01-Chapter 7—Market Efficiency and Welfare . Questions and Answers

  • Exam (elaborations) • 29 pages • 2021
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    • 01-Chapter 7—Market Efficiency and Welfare . Questions and Answers TRUE/FALSE 1. If Ming is willing to pay $75 to attend the Broadway production of The Lion King but actually pays $40, she receives a consumer surplus of $35. ANS: T PTS: 1 2. If James is willing to sell an extra concert ticket for $40 and actually sells it for $100, his consumer surplus is $60. ANS: F PTS: 1 3. If the world supply of diamonds decreases, diamonds become more valuable, and therefore, the consumer surpl...
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CHAPTER 34-Externalities QUESTIONS WITH VERIFIED ANSWERS

  • CHAPTER 34-Externalities QUESTIONS WITH VERIFIED ANSWERS

  • Exam (elaborations) • 11 pages • 2021
  • CHAPTER 34-Externalities TRUE/FALSE 1. A trade between two people is an example of an externality. ANS: F DIF: 1 2. The only known way to eliminate externalities is through taxes or subsidies. ANS: F DIF: 1 3. The efficient amount of air pollution is in general independent of whether polluters or pollutees pay to reduce pollution. ANS: F DIF: 1 4. A Pigouvian tax on pollution is designed to collect enough revenue to pay for pollution detection by the government. ANS: F DIF: 1 5. If t...
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ECON 301 Chap011 LATEST

  • ECON 301 Chap011 LATEST

  • Exam (elaborations) • 153 pages • 2021
  • ECON 301 Chap011 ECON 301 Chap011 ECON 301 Chap011
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ECON 301

  • ECON 301

  • Exam (elaborations) • 5 pages • 2021
  • ECON301SYL2017Fall_
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Section 1 Formulas Section 1 Formulas

  • Section 1 Formulas

  • Other • 3 pages • 2020
  • Cheat Sheet of formulas for Intermediate Microeconomics. Great if you have open-book quizzes or tests, missed class, or need a reference in-class. Topics Covered: -Budget Constraints -Consumer Preferences and Utility -Consumer Choice This is chapter 3 of Pindyck and Rubinfeld Based off of terms covered in WVU ECON 301 and Pindyck and Rubinfeld 9th Edition Microeconomics textbook.
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