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  • Applied Econ Midterm 1 - 2

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    Domz Domanico
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    The document provides questions for a midterm exam on applied economics. It asks students to explain why demand curves slope downward and supply curves slope upward, and to illustrate the differences between monopoly and perfect competition in terms of ease of entry, product differentiation, and market power. It also asks students to graph and explain the effects of a sin tax on tobacco and to explain why land is more expensive in an urban area than a rural one.

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    APPLIED-ECON-MIDTERM-1_2

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    The document provides questions for a midterm exam on applied economics. It asks students to explain why demand curves slope downward and supply curves slope upward, and to illustrate the differences between monopoly and perfect competition in terms of ease of entry, product differentiation, and market power. It also asks students to graph and explain the effects of a sin tax on tobacco and to explain why land is more expensive in an urban area than a rural one.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Download as docx, pdf, or txt
    30 views1 page

    Applied Econ Midterm 1 - 2

    Uploaded by

    Domz Domanico
    The document provides questions for a midterm exam on applied economics. It asks students to explain why demand curves slope downward and supply curves slope upward, and to illustrate the differences between monopoly and perfect competition in terms of ease of entry, product differentiation, and market power. It also asks students to graph and explain the effects of a sin tax on tobacco and to explain why land is more expensive in an urban area than a rural one.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    of 1

    SUBJECT: APPLIED ECONOMICS

    MIDTERM (PART 1 of 2)

    Lesson: Chapter 4: Application of Demand and Supply

    Activity: Written Work 1

    Answer the following based on your understanding. Give your own examples to expound
    your explanation. (HPS: 30 points)

    1. What are the economic reasons why the demand curve is downward sloping?
    2. What are the economic reasons why the supply curve is upward sloping?
    3. Illustrate the differences between a monopoly and perfect competition in ease of entry,
    product differentiation, and market power.

    Activity: Performance Task 1

    Answer in not less than 5 sentences each. You may include graphs and tables to
    illustrate the concepts in economics related to the question. (HPS: 45 points.)

    1. The government wants to promote healthier lifestyles for Filipino citizens by imposing sin
    tax on tobacco. Graph the effects of sin tax and state the effects on quantity and price.
    2. Explain why the price of a hectare in the rural Samar is lower than the price of 1000
    square meters in Bonifacio Global City.

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