Today's slides and scores are up. The average score on quiz 3 was a lower-than-expected 71%. So (i) tomorrow's class is review, and (ii) I'll tell you what is on the midterm below.
I'm setting aside tomorrow to go over practice questions for the midterm, with an emphasis on recent material. You can bring any questions (from the workbook or elsewhere) you'd like to go over. If there is time left after that, I'll finish up the "Deriving Demand" stuff.
The midterm will be out of 50 points (five 10-point questions), with 6 bonus points (three questions) available…
1. fill-in-the-blank, multiple choice
2. price floors and ceilings (like quiz 2)
3. calculating equilibrium, elasticities, and effects of a tax (similar to quiz 3)
4. the consumer's problem — graphing the budget, finding the solution
5. graphing preferences, supply and demand shifts