ECON 2302 Microeconomics EXAM 100 % CORRECT WITH ANSWERS RATED A+ DOWNLOAD

ECON 2302 Microeconomics EXAM 100 %
CORRECT WITH ANSWERS RATED A+
DOWNLOAD


At a price of $9.99 per digital book, Danielle buys 3 digital books per month. When the price
decreases to $7.99, Danielle buys 4 digital books per month. Jason says that Danielle's
demand for digital books has increased. Is Jason correct?


Yes, Jason is correct.

No, Jason is incorrect. Danielle's demand has decreased.

No, Jason is incorrect. Danielle's quantity demanded has decreased, but her demand
has stayed the same.

No, Jason is incorrect. Danielle's quantity demanded has increased, but her
demand has stayed the same.

No, Jason is incorrect. Danielle's quantity demanded has increased and her demand
has decreased.
4/4
points

Question
2
Which of the following illustrates the law of demand?




Question 3

, ECON 2302 Microeconomics EXAM 100 %
CORRECT WITH ANSWERS RATED A+
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Jorge ceteris paribus.
buys
Chen buys more ice cream at $4 per half-gallon than at $3 per half gallon, ceteris
fewer
paribus. Karissa buys fewer sweaters at $50 each than at $35 each, ceteris
pencils at
paribus.
$2 per
a, b, and c
pencil
than at $1 a and c
per 4/4
pencil, points
If consumers’ surplus is $30 and the price paid for the good is $50, then the maximum price a
buyer is willing and able to pay for the good is


$80.

$30.

$50.

$20.

There is not enough information to answer the
question. 4/4
points



Question
4
A surplus will occur in a market when the price of the product is greater than the equilibrium
price.


True
False

, ECON 2302 Microeconomics EXAM 100 %
CORRECT WITH ANSWERS RATED A+
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Question 4/4
5 points