2.1 If there are two goods with positive prices and the price of one good is reduced, while income and other prices remain constant, then the size of the budget set is reduced. Topic: Budget Constraint Diculty: 1 % Correct Responses: 76 Discrimination Index: 24 Correct Answer: False

This chapter was written so I would have something to talk about on the first day of class. I wanted to give students an idea of what economics was all about, and what my lectures would be like, and yet not have anything that was really critical for the course. (At Michigan, students are still shopping around on the first day, and a good number of them won’t necessarily be at the lecture.)

Consumer surplus is a measure of how much money a consumer would need to be given, in order to be just willing to give up their entire consumption of a particular good. Consumer surplus is approximately the area behind the demand curve. The change in consumer surplus following aprice change is illustrated in the second graph

The last lecture investigated which bundle of goods the consumer prefers. However, goods cost money and the consumer cannot afford to buy indefinite amounts of each good

A consumption externality is a situation where a consumer cares directly about another agent’s consumption or production of a particular good. An externality can be positive or negative: 1. Negative: Loud mobile phone use in public places. 2. Positive: Pipe smoking in enclosed public places

OTHER GOOD Rebating a Consumption tax based on inder RTP initial consumption RTP budget constraint Baseline

To ensure good combustion in diesel engines and reduce wear and corrosion in this type of engine it may be necessary to remove certain impurities from fuel and lubricating oils. These include ash, various salts and water present in fuel oil and carbonaceous matter, metals, acids and water present in used lubricating oil. carbonaceous

determine whether an application is possible No matter how good the electric, magnetic, chemical or other properties are, a material is of no use if it does not fulfill mechanical requirements hardness compressive & tensile strength

Part I Warming up Part II What Makes a Good orBad student? Part III Some Facts aboutEnglish Part IV Language Study and LanguageAppreciation

Objectives Focus Warming up 8.1 What seems to be the problem? 8.2 We all make mistakes –sometimes! 8.3 Complaining and apologizing 8.4 Friday afternoon: Delivery problems 8.5 Only the best is good enough 8.6 Monday morning：After-sales problems Sum-up Assignment