ECON 2030 LSU ROUSSEL LATEST ASSESSMENT FINAL
EXAM 2026|| Most Recent Exam Actual Complete
Real Exam Questions And Correct Answers (Verified
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Newest Exam | Just Released!! 2026-2027
Suppose that apples are the main input in the production of apple
cider. Suppose further that the wage paid to apple harvesters
decreases.
In the situation above, the equilibrium price of apple cider will _____
and the equilibrium quantity of apple cider transacted will ,
everything else held constant.
a) Decrease; increase
b) Decrease; decrease
c) Increase; increase
d) Increase; decrease
a) Decrease; increase
,Suppose that apples are the main input in the production of apple
cider. Suppose further that the wage paid to apple harvesters
decreases.
In the situation above, the wage change will cause the ___ apples to
_____.
a) Demand for; decrease
b) Supply of; increase
c) Demand for; increase
d) Supply of; decrease
b) Supply of; increase
,Mark: 16 cookies/hr, 4 brownies/hr
Howie: 14 cookies/hr, 2 brownies/hr
In the situation above, ____ has the absolute advantage in baking
cookies and _____ has the comparative advantage in baking brownies.
a) Howie; Mark
b) Mark; Howie
c) Howie; Howie
d) Mark; Mark
d) Mark; Mark
, Mark: 16 cookies/hr, 4 brownies/hr
Howie: 14 cookies/hr, 2 brownies/hr
In the situation above, Howie's opportunity cost of baking one
cookie is ___ brownies.
a) 1/7
b) 7/8
c) 8/7
d) 2
e) 7
a) 1/7
Mark: 16 cookies/hr, 4 brownies/hr
Howie: 14 cookies/hr, 2 brownies/hr
In the situation above, can mutually beneficial trade occur?
a) No, because Mark is more productive than Howie at both
activities.
b) Yes, if Mark specializes in baking brownies and Howie specializes
in baking cookies.
c) No, because Howie is more productive than Mark at both
activities.
d) Yes, if Mark specializes in baking cookies and Howie specializes
in baking brownies.
b) Yes, if Mark specializes in baking brownies and Howie specializes
in baking cookies.
EXAM 2026|| Most Recent Exam Actual Complete
Real Exam Questions And Correct Answers (Verified
Answers) Already Graded A+ | Guaranteed Success!!
Newest Exam | Just Released!! 2026-2027
Suppose that apples are the main input in the production of apple
cider. Suppose further that the wage paid to apple harvesters
decreases.
In the situation above, the equilibrium price of apple cider will _____
and the equilibrium quantity of apple cider transacted will ,
everything else held constant.
a) Decrease; increase
b) Decrease; decrease
c) Increase; increase
d) Increase; decrease
a) Decrease; increase
,Suppose that apples are the main input in the production of apple
cider. Suppose further that the wage paid to apple harvesters
decreases.
In the situation above, the wage change will cause the ___ apples to
_____.
a) Demand for; decrease
b) Supply of; increase
c) Demand for; increase
d) Supply of; decrease
b) Supply of; increase
,Mark: 16 cookies/hr, 4 brownies/hr
Howie: 14 cookies/hr, 2 brownies/hr
In the situation above, ____ has the absolute advantage in baking
cookies and _____ has the comparative advantage in baking brownies.
a) Howie; Mark
b) Mark; Howie
c) Howie; Howie
d) Mark; Mark
d) Mark; Mark
, Mark: 16 cookies/hr, 4 brownies/hr
Howie: 14 cookies/hr, 2 brownies/hr
In the situation above, Howie's opportunity cost of baking one
cookie is ___ brownies.
a) 1/7
b) 7/8
c) 8/7
d) 2
e) 7
a) 1/7
Mark: 16 cookies/hr, 4 brownies/hr
Howie: 14 cookies/hr, 2 brownies/hr
In the situation above, can mutually beneficial trade occur?
a) No, because Mark is more productive than Howie at both
activities.
b) Yes, if Mark specializes in baking brownies and Howie specializes
in baking cookies.
c) No, because Howie is more productive than Mark at both
activities.
d) Yes, if Mark specializes in baking cookies and Howie specializes
in baking brownies.
b) Yes, if Mark specializes in baking brownies and Howie specializes
in baking cookies.
