October 22, 2007

Unit 2 Exam

Posted in Basic Economic Concepts, elasticity, Price Ceilings, Price Floors, Supply & Demand at 4:36 pm by davidprudente

The Unit 2 exam on issues relating to supply and demand will be tomorrow (10/23). The exam will consist of Twenty-five multiple choice questions and one multi-part free response question. As I mentioned in class, you need to know what factors will shift the supply and demand curves; how to determine elasticity; and how a price ceiling and price floor effect markets.

Be sure you use your textbook, notes, Barron’s study guide, and the on-line resources available to you to prepare for the exam. Good luck.



  1. Mike M said,

    http://www.ultimate-guitar.com/news/general_music_news/radiohead_make_10_million_from_in_rainbows.html – I don’t know how reliable that is, but it sounds rather reasonable.

  2. davidprudente said,

    Thanks Mike. I also found this link from Wired magazine’s blog that says the “estimate” revenue is $6-10 Million. I’m not sure that we’ll really know what is true unless there is third party confirmation.


  3. jun lee said,

    will there be questions on taxes from chapter 6??

  4. davidprudente said,

    I’m not planning on asking questions about tax incidence. That will be discussed in the next unit.

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