Economic Final Exam Sample
Name: ________________________ Class: ___________________ Date: 9. December 2009
ID: A
Final Exam - Microeconomics
General Instructions:
Calculators and rulers are allowed.
You are not allowed to have any cell phones with you during the exam. That is, you may not use your cell phone as a calculator. In fact, you may not use any device other than a calculator (scientific calculators are allowed).
This is a closed book and closed notes exam.However, you may have with you one page (both sides) with your notes on it.
Multiple Choice
Identify the letter of the choice that best completes the statement or answers the question. HAVE A GREAT WINTER BREAK!!!
Figure 5-5
____ 25. Refer to Figure 5-5. An increase in price from $30 to $35 would
a. decrease total revenue by $250.
b. increase total revenue by $250
c. increase total revenue by $500.
d. decrease total revenue by $500.
1
Name: ________________________
ID: A
____ 26. Refer to Figure 5-5. When price falls from $50 to $40, it can be inferred that demand between those two prices is
a. elastic, since total revenue increases from $5,000 to $8,000.
b. unit elastic, since total revenue increases from $5,000 to $8,000.
c. inelastic, since total revenue decreases from $8,000 to $5,000.
d. inelastic, since total revenue increases from $5,000 to $8,000.
____ 27. Refer to Figure 5-5. When the price is $30, total revenue is
a. $3,000.
b. $7,000.
c. $5,000.
d. $9,000.
____ 28. Refer to Figure 5-5. An increase in price from $20 to $30 would
a. decrease total revenue by $1,000.
b. increase total revenue by $2,000.
c. decrease total revenue by $2,000.
d. increase total revenue by $1,000.
Table 13-7
Teacher's Helper is a small company that has a subcontract to produce instructional materials for disabled children in public school districts. The owner rents several small rooms in an office building in the suburbs for $600 a month and has leased computer equipment that costs $480 a
ID: A
Final Exam - Microeconomics
General Instructions:
Calculators and rulers are allowed.
You are not allowed to have any cell phones with you during the exam. That is, you may not use your cell phone as a calculator. In fact, you may not use any device other than a calculator (scientific calculators are allowed).
This is a closed book and closed notes exam.However, you may have with you one page (both sides) with your notes on it.
Multiple Choice
Identify the letter of the choice that best completes the statement or answers the question. HAVE A GREAT WINTER BREAK!!!
Figure 5-5
____ 25. Refer to Figure 5-5. An increase in price from $30 to $35 would
a. decrease total revenue by $250.
b. increase total revenue by $250
c. increase total revenue by $500.
d. decrease total revenue by $500.
1
Name: ________________________
ID: A
____ 26. Refer to Figure 5-5. When price falls from $50 to $40, it can be inferred that demand between those two prices is
a. elastic, since total revenue increases from $5,000 to $8,000.
b. unit elastic, since total revenue increases from $5,000 to $8,000.
c. inelastic, since total revenue decreases from $8,000 to $5,000.
d. inelastic, since total revenue increases from $5,000 to $8,000.
____ 27. Refer to Figure 5-5. When the price is $30, total revenue is
a. $3,000.
b. $7,000.
c. $5,000.
d. $9,000.
____ 28. Refer to Figure 5-5. An increase in price from $20 to $30 would
a. decrease total revenue by $1,000.
b. increase total revenue by $2,000.
c. decrease total revenue by $2,000.
d. increase total revenue by $1,000.
Table 13-7
Teacher's Helper is a small company that has a subcontract to produce instructional materials for disabled children in public school districts. The owner rents several small rooms in an office building in the suburbs for $600 a month and has leased computer equipment that costs $480 a