ANAME: GROUP:
To each question there is a unique correct answer. For each correct answer you
receive 5 points. For each wrong answer 1.6 points are subtracted from your final
grade. For answers left blank no points are added nor subtracted. The answers have
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to evaluate your exam. Please keep in mind that :
1. You have to write down your name, last name, study programme , group
number and NIU before starting the exercise. Do not forget to sign your
exam.
2. On the top left of this page you find a capital letter printed in bold. This
letter indicates the type of your exam.
---------------------------------------------MICROECONOMICS---------------------------------------------
1. A decrease in the price of oil should lead to:
1.a. An increase in the demand for cars.
1.b. An increase in the quantity of cars demanded.
1.c. An increase in the quantity of petrol (gasoline) supplied.
1.d. An increase in the demand for petrol (gasoline).
Pric
e
Deman
d
Supply
0 10 0
10 8 2
20 4 4
30 2 8
2. Consider the demand and supply in the table on the right:
2.a.There is excess supply at price 15.
2.b.The equilibrium price is 25.
2.c.There is excess demand at price 30.
2.d.The equilibrium quantity is 4.
3. An increase in the price of oil and its by-products produces:
3.a. An increase in the fixed costs of airlines.
3.b. That the supply curve of road transportation becomes
more inelastic.
3.c. An increase in the marginal cost of messenger services.
3.d. It is an additional sunk cost for the workers who
commute by car.
4.
The graph on the right represents a market operated by a profit maximising
monopolist.
3.e. The consumer surplus is equal to 7
units.
