Part 1: The Quant Portion This section comprises twelve (12) problems. To demonstrate understanding, you must answer the question being asked and avoid adding extra information in the hopes of getting credit. If you need more room then use additional sheets of paper but be sure to indicate which problem is being continued on those sheets. Question Q1 s 550 500 450 400 350 300 250 200 150 100 50 75 100 125 150 Marijuana (lbs) 175 200 225 250 275 Using the graph above, label all the curves and Indicate on the graph (by drawing lines) the write down below the price (PME) and output (QME) values that occur at the market equilibrium making sure to use the appropriate units. Use a straight-edge on the graph that supports the values you right down. Read the graph carefully.
Part 1: The Quant Portion This section comprises twelve (12) problems. To demonstrate understanding, you must answer the question being asked and avoid adding extra information in the hopes of getting credit. If you need more room then use additional sheets of paper but be sure to indicate which problem is being continued on those sheets. Question Q1 s 550 500 450 400 350 300 250 200 150 100 50 75 100 125 150 Marijuana (lbs) 175 200 225 250 275 Using the graph above, label all the curves and Indicate on the graph (by drawing lines) the write down below the price (PME) and output (QME) values that occur at the market equilibrium making sure to use the appropriate units. Use a straight-edge on the graph that supports the values you right down. Read the graph carefully.
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter4: Going Into Debt
Section: Chapter Questions
Problem 2AA
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