Econ 101 Final exam
Alabama State University
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Econ 101 Final exam ( latest update ) Graded A+
- Exam (elaborations) • 1 pages • 2021
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Econ 101 Final exam
1. A change in the price of a good has two effects on quantity demanded; these are
A. the income effect and the utility effect.
B. the substitution effect and the utility effect.
C. the indifference effect and the substitution effect.
D. the income effect and the substitution effect.
E. the indifference effect and the income effect.
2. Assume that the technology used by firms improves. As a result, supply shifts from to and the equilibrium price moves f...
Exam (elaborations)
Econ 101 Final exam ( latest update ) Graded A+
Last document update:
ago
Econ 101 Final exam 1. A change in the price of a good has two effects on quantity demanded; these are A. the income effect and the utility effect. B. the substitution effect and the utility effect. C. the indifference effect and the substitution effect. D. the income effect and the substitution effect. E. the indifference effect and the income effect. 2. Assume that the technology used by firms improves. As a result, supply shifts from to and the equilibrium price moves f...
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