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    Quiz 2 Sec A

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    Muhammad Luqman Ahmad
    This document provides details for Quiz 2, which contains one question regarding the effects of an improvement in production technology under assumptions of perfect competition and short run conditions. The question asks how the improvement would impact market supply, market equilibrium, and individual demand. The quiz is worth 20 total marks and must be completed within 30 minutes. It will be graded based on graphs and explanations showing the changes to supply, equilibrium, and individual demand resulting from the improved technology.

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    Quiz 2 Sec A

    Uploaded by

    Muhammad Luqman Ahmad
    10 views2 pages
    This document provides details for Quiz 2, which contains one question regarding the effects of an improvement in production technology under assumptions of perfect competition and short run conditions. The question asks how the improvement would impact market supply, market equilibrium, and individual demand. The quiz is worth 20 total marks and must be completed within 30 minutes. It will be graded based on graphs and explanations showing the changes to supply, equilibrium, and individual demand resulting from the improved technology.

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    stats quiz

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    Quiz 2 sec A

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    This document provides details for Quiz 2, which contains one question regarding the effects of an improvement in production technology under assumptions of perfect competition and short run conditions. The question asks how the improvement would impact market supply, market equilibrium, and individual demand. The quiz is worth 20 total marks and must be completed within 30 minutes. It will be graded based on graphs and explanations showing the changes to supply, equilibrium, and individual demand resulting from the improved technology.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    10 views2 pages

    Quiz 2 Sec A

    Uploaded by

    Muhammad Luqman Ahmad
    This document provides details for Quiz 2, which contains one question regarding the effects of an improvement in production technology under assumptions of perfect competition and short run conditions. The question asks how the improvement would impact market supply, market equilibrium, and individual demand. The quiz is worth 20 total marks and must be completed within 30 minutes. It will be graded based on graphs and explanations showing the changes to supply, equilibrium, and individual demand resulting from the improved technology.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
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    Quiz 2

    Q1) Assuming perfect competition and assuming short run. If an improvement of technology
    decreases the cost of production:
    a. What happens to the market supply,
    b. What happens to the market equilibrium , and
    c. What happens to the individual’s demand.

    • Graph showing change in supply and eqm (5)


    • Explanation of market supply and eqm (5)
    • Graph showing individual demand change (5)
    • Explanation of individual demand (5)

    Total Marks (20)


    Total time (30 mins)

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