<p>Um, my free response questions do not sound like the same ones you guys got… Did you guys have one about frozen yogurt?</p>
<p>I got 25 for CS…</p>
<p>wcclirl444, you had a different form of the exam.</p>
<p>Studytogo - demand doesn’t decrease, rather QUANTITY demanded decreases. Theresa’s demand curve will stay the same. So there is no change in demand, only a shift along the curve.</p>
<p>For #2 they were talking about demand. Quantity demanded is completely different. This distinction was made clear in my econ class multiple times so I answered the question assuming they were talking only about demand.</p>
<p>Um no I didn’t get the problem about frozen yogurt</p>
<p>I will be taking this next year. However, I am slightly clueless on how to proceed. I ordered Barrons, but was wondering whether that would be enough to ensure a 5… are there any online free textbooks or resources that I should use? Or do you know one specific review book that would ensure a 5 on both?</p>
<p>Why did I get a different exam??? I’m in the US so I doubt they would have given our school form B…</p>
<p>@nk2014: I self-studied using 5 Steps to a 5. Reffonomics is a good source, and other than that, I just took all the practice exams I could get and reviewed them thoroughly.</p>
<p>You took micro right?</p>
<p>wouldn’t demand be affected? one of the determinants of demand is consumer expectations so if she expects the price to increase in the future her present demand will increase. i probably overthought this…</p>
<p>@Desafinado: She’s not speculating an increase in price: the higher price was already implemented. No where does it say “Theresa expects the price of wheat to go up.”</p>
<p>Here are the solutions that I got for the free-response. Note that I had no idea how to do number three and I just wrote down what I did on the test.</p>
<p>[Question</a> 1 - Solutions](<a href=“http://desmond.imageshack.us/Himg819/scaled.php?server=819&filename=micro1s.jpg&res=landing]Question”>http://desmond.imageshack.us/Himg819/scaled.php?server=819&filename=micro1s.jpg&res=landing)
[Question</a> 2 - Solutions](<a href=“http://desmond.imageshack.us/Himg151/scaled.php?server=151&filename=micro2p.jpg&res=landing]Question”>http://desmond.imageshack.us/Himg151/scaled.php?server=151&filename=micro2p.jpg&res=landing)
[Question</a> 3 - Solutions](<a href=“http://desmond.imageshack.us/Himg812/scaled.php?server=812&filename=micro3e.jpg&res=landing]Question”>http://desmond.imageshack.us/Himg812/scaled.php?server=812&filename=micro3e.jpg&res=landing)</p>
![http://desmond.imageshack.us/Himg819/scaled.php?server=819&filename=micro1s.jpg&res=landing]Question](http://desmond.imageshack.us/Himg819/scaled.php?server=819&filename=micro1s.jpg&res=landing%5DQuestion){kind=link}
![http://desmond.imageshack.us/Himg151/scaled.php?server=151&filename=micro2p.jpg&res=landing]Question](http://desmond.imageshack.us/Himg151/scaled.php?server=151&filename=micro2p.jpg&res=landing%5DQuestion){kind=link}
![http://desmond.imageshack.us/Himg812/scaled.php?server=812&filename=micro3e.jpg&res=landing]Question](http://desmond.imageshack.us/Himg812/scaled.php?server=812&filename=micro3e.jpg&res=landing%5DQuestion){kind=link}
<p>Let me know what I got right/wrong.</p>
<p>@freddyo, I took both. But, yes, the yogurt problem was definitely from the micro exam. It had to do with like marginal product and stuff.</p>
<p>macro was way easier than mirco</p>
<p>@eobaggs: for question 3bii consumer surplus is a triangle (1/2bh) so you should have divided by 2 to get $25 and i don’t think 3biii is correct. Everything elce looked fine.</p>
<p>Ugh I drew the graph like that but I changed it… Eh. I think I’ll get around 20 or so on it…</p>
<p>Is my answer for 3C correct? Because some people are saying that the tariff would be $0.</p>
<p>It’s definitely 0…government taxes/tariffs ALWAYS create DW loss that reduces total surplus.</p>
<p>However, a $2 import subsidy would be even better, but I suppose they wanted nonnegative values.</p>
<p>@eobaggs, doesn’t the last part of question 2 ask for the elasticity of both goods?</p>
<p>@hoboman65, isn’t the consumer surplus a trapezoid? </p>
<p>(b1+b2)/2)<em>h = ((5+2)/2)</em>(6 million)= 21 million units of consumer surplus?</p>
<p>@eobaggs, shouldn’t the government tax revenue be $2 * quantity imported = $2 * (10 million-6 million) = $2 * (4 million) = 8 million?</p>
<p>also, since price of other goods is a determinant of demand, shouldn’t the whole demand curve shift for 2b?</p>
<p>I got $8 as well for ta revenue, and 21 as well for consumer surplus.</p>