Econ 203 quiz 3 Study guides, Class notes & Summaries
Looking for the best study guides, study notes and summaries about Econ 203 quiz 3? On this page you'll find 2 study documents about Econ 203 quiz 3.
All 2 results
Sort by
-
ECONOMICS 203 Quiz 3_ECON 203 PRINCIPLES OF ECONOMETHICS Questions and Answers
- Exam (elaborations) • 9 pages • 2021
-
- $10.90
- + learn more
Question 1		1 / 1 point 
The ________________ arises when a price changes because consumers have an incentive to consume less of the good with a relatively higher price and more of the good with a relatively lower price. 
		a) 	preferences effect 
 
 		b) 	substitution effect 
 
		c) 	income effect 
 
		d) 	backward-bending supply curve 
 
Question 2		1 / 1 point 
Marginal utility can: 
		a) 	increase positively, but not negatively 
 
		b) 	be positive or negative, but not zero 
 
 		c) 	...
-
ECONOMICS 203 Midterm Exam Quiz 2 Questions and Answers
- Exam (elaborations) • 10 pages • 2021
-
- $12.30
- + learn more
Quiz Submissions - Quiz #2 ~ ECON 203 
 
 
Chapter 8 
Question 1		1 / 1 point 
If a firm's revenues do not cover its average variable costs, then that firm has reached its _________________ . 
		a) 	price taking point 
 
 		b) 	shutdown point 
 
		c) 	opportunity margin 
 
		d) 	marginal point 
 
Chapter 8 perfectly competitive market, 
Question 2		1 / 1 point 
If a perfectly competitive firm is a price taker, then 
 		a) 	pressure from competing firms will force acceptance of the preva...
Want to regain your expenses?
How much did you already spend on Stuvia? Imagine there are plenty more of you out there paying for study notes, but this time YOU are the seller. Ka-ching! Discover all about earning on Stuvia