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Study Guide Updates and Errata
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The following errors have been identified in the print version of the Study Guide for use with Microeconomics, 18e.

Chapter 1
T/F Question 11, page 6:
The question should read "unlimited economic wants" not "scarce economic wants."

Multiple Choice Question 20, page 15:
The question should read:

"If the dependent variable (vertical axis) changes by 22 units when the independent variable (horizontal axis) changes by 12 units, then the slope of the line is."

Chapter 1 Appendix
T/F Question 10:
The correct answer is False

Chapter 3 Appendix
T/F Question 5, page 42:
The question should read:

"In a market for beef, the equilibrium price will increase…"

Chapter 4
Fill-in Question 7, page 53:
The correct answers are "stocks, bonds, limited, unlimited"

Chapter 6
T/F Answers, page 78:
The following answers in the True/False section should be corrected:
Question 5: correct answer is T
Question 7: correct answer is T
Question 8: correct answer is F

Chapter 7
Multiple Choice Question 10:
The correct answers are a. MU of product X; b. MU of product Y; c. price of X; d. price of Y

Chapter 13
Multiple Choice Question 14, page 179:
Option (b) should read: "decreasing the demand for labor"

Chapter 15
Multiple Choice Question 24, page 209:
Option (a) should read: "better off because he gets $2000 from selling the ITQ and he can earn $2000 in profit from fishing"

Chapter 16
Multiple Choice Question 9, page 219:
Option (b) should read: "$7 million"

Chapter 17
Answers, page 234:
The following answers should be corrected:
T/F Question 8 = True
Multiple Choice Question 17 = A

Chapter 23
Multiple Choice Questions 4-7, page 295:
In the "Nepal Production Possibilities Table" to accompany the questions, the value for Camel Hides in Column E should be 8.

The page references for Chapter 23 of the Study Guide incorrectly refer to the Economics main book page numbers. Please refer to the file below for the corrected page references. Chapters 1-22 are not affected.

Corrected Micro Study Guide Page References (12.0K)






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