1. AGEC 105 EQ #9 October 16, 2013 This EQ is worth 3 points.

2. Question 1
Point
Price
Quantity Supplied A 1 2 B 3 C 6 D 4 8

3. Question 2 P S $4 $2 30
Q (million) 30
profits or economic rent

4. Question 3 (1/2pt) Given the diagram below, define Pe and Qe.
Psoybeans S Pe D Qe
Qsoybeans
Pe  equilibrium or market clearing price
Qe  equilibrium or market clearing quantity

5. Random Question:
Name one of the three economists who were awarded the Nobel Prize in 2013.
Fama – University of Chicago
Hansen – University of Chicago
Shiller – Yale University