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ECON 545

Week 3

Imperfect Competitions Quiz

These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below.

Date Taken:

11/10/2011

Time Spent:

41 min , 44 secs

43 / 100 (43%)

Question Type:

# Correct:

Short

10

N/A

1.

Question :

(TCO A) There is a decrease in the cost of labor for producing bicycles.

(4 pts.) What happens to bicycle supply?

(6 pts.) What happens to bicycle demand?

Student Answer:Since a change in costs to produce the product is a supply factor, an increase in costs would be expected to decrease bicycle supply. Supply is a...

ECON 545
Guide4Students

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