Econ 2200 Midterm #1 fall 2011 Section I Answer Four of the following six questions. Each question is worth 5 points. a. What is the difference between the Income Effect and a Change in Income? b. True or False: The slope of the budget line represents the rate at which the consumer is willing to trade one good for another at any given bundle. Explain. c. An Engel curve can be both positively and negatively sloped‚ why does this happen? d. What do we mean by the term “Consumer Surplus”? e
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Opportunity cost of an activity (or goods) is equal to the best next alternative foregone. Although opportunity cost can be hard to quantify‚ the effect of opportunity cost is universal and very real on the individual level. In fact‚ this principle applies to all decisions‚ not just economic ones. Since the work of the Austrian economist Friedrich von Wieser‚ opportunity cost has been seen as the foundation of the marginal theory of value[citation needed]. Opportunity cost is one way to measure
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QUESTION 1 a. A downward-sloping demand curve shows in both graphs when the quantity at each price is doubled what it was. However‚ the curve in demand for pharmaceutical drugs is drawn with a relatively steep slope as inelastic products. Equilibrium price down-sloping along the demand curve while quantity in both market increased to some extent. b. In inelastic demand of pharmaceutical drugs‚ the percentage change in price is greater than the percentage change in quantity demanded. While in elastic
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The possibility that microorganisms exist was discussed for many centuries before their actual discovery in the 17th century. The existence of unseen microbiological life was postulated by Jainism‚ which is based on Mahavira’s teachings as early as 6th century BCE.[19] Paul Dundas notes that Mahavira asserted existence of unseen microbiological creatures living in earth‚ water‚ air and fire.[20] Jain scriptures also describe nigodas‚ which are sub-microscopic creatures living in large clusters and
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Subject: Business Economics Subject Code: BUECO5903 Course Coordinator / Moderator: Paul McPhee / David Spiers Assignment A: Microeconomics Student Name: Noor Aini Faiz Student Number: 30120381 Lecturer: Dr. Ganeshamoorthy Question 1: (a) Explain and illustrate using suitable diagrams‚ the impact of external costs and
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What is Morphology? LING 201 §Definition: the study of the construction of words out of morphemes Morphology Janice Fon The Ohio State University 1 Morphemes (I) 2 Morphemes (II) §Definition: smallest linguistic unit that has a meaning or grammatical function l l free morpheme: morphemes that can stand alone as words (ex) clock‚ sick bound morpheme: morphemes that always attach to other morphemes‚ never existing as words themselves (ex) -ly‚ non- Morpheme (according
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Bacterial Diseases of Fish by Robert B. Moeller Jr.‚ DVM California Animal Health and Food Safety Laboratory System University of California Aeromonas hydrophila (Bacterial Hemorrhagic Septicemia) 1. Gram negative motile rods 2. Effects many freshwater species and usually is associated with stress and overcrowding. 3. The clinical signs and lesions are variable. The most common finding is hemorrhage in skin‚ fins‚ oral cavity and muscles with superficial ulceration of the
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process in which a bacterial cell takes up extracellular DNA. This can be especially useful for bacteria in order to acquire certain traits such as: antibiotic resistance‚ synthesis of catabolites‚ or any other trait that would help improve its survival. However‚ not all bacterial cells are naturally competent (able to naturally take up extracellular DNA). There are several techniques that can make cells artificially competent‚ some of which will be discussed later. Bacterial transformation was
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Macro Economic System and its Management. 1. Macro Economic Concerns: • Micro vs Macro Economics. • Major Building Blocks of Macro Economics: 1) AD & AS 2) Four Sectors: HHS‚ BS‚ GS & FTS 3) Two Markets: Commodity Market and Money Market. • Specific issues to be addressed in Macro Economics: o Rising Prices o Rising Unemployment o Falling GDP o Balance of Payments Crisis. • Tools of Macro Economic Policy and Management:
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Cristina Alzandua General Biology 1401 Dr. Erin Schuenzel February 13‚ 2014 Bacterial and Eukaryotic Cell Structures All organisms are composed of cells which are characteristically microscope in size. Cell size is limited by the efficiency of diffusion across the plasma membrane. A typical eukaryotic cell is 10 to 100 micrometers in diameter opposed to prokaryotic cells are 1 to 10 micrometers in diameter. Bacterial and Eukaryotic cells display different cell organization in their size and structure
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