Quiz5
Class Name Number
1.A good will tend to have an inelastic demand if:
天下平安a.the good has many clo substitutes. b.the good is a luxury.
c.the market is defined very broadly. d.the time horizon is long.
2.A perfectly elastic demand is reprented graphically by a:
joy88a.relatively steep demand curve. b.relatively flat demand curve.
c.vertical demand curve. d.horizontal demand curve.
3.What effect will an increa in the price have on Total Revenue, if demand is elastic?
a.Total Revenue will increa. b.Total Revenue will decrea.
c.Total Revenue will first decrea and then increa. d.Total Revenue will remain unchanged.
4.The price elasticity of demand tends to be more elastic:
三角形内切圆性质
a.at points further up and to the left along the demand curve.
b.at points further down and to the right along the demand curve.
c.when the demand curve becomes steeper. d.when the demand curve is vertical.
5.Suppo that General Cars increas the price of its Cadiclap model from $13,500 to $16,500. As a result of this, the quantity demanded of the Cadiclap model decreas from 600,000 to 400,000 per year. Find the price elasticity of demand of the Cadiclap using the Mid-Point method.
a.-3.0 b.-0.5 c.-2.0 d.-0.3
工作目标怎么写6.If a firm needs to increa its Total Revenue, the firm should ________ the price, if the
demand for its product is ________.
a.drop, inelastic b.rai, elastic c.drop, elastic d.drop, unit elastic
7.Suppo that consumers' incomes ri by 3%, and that this caus the quantity demanded increa by 2%
a.1.50 b.0.67 c.-1.50 d.-0.67
8.Suppo that a good has an income elasticity of demand of -2.0. This means that the good is:
a.normal. b.inferior. c.a substitute. d.a complement.
9.If two goods have a cross-price elasticity of demand of -0.8. This means that the goods are:
a.normal. b.inferior. c.substitutes. d.complements.
10.The price of good A increas from $4.50 to $5.50. This caus the quantity demanded of good B to increa from 900 to 1100 units per month. Find the cross price elasticity of demand using the Mid-Point method.
a.-1.0 b.+2.0 c.+1.0 d.-2.0
Quiz6
Class Name Number
1.Suppo that a regulation is in place that does not allow the price of a good to exceed $5. If this price is above the equilibrium price in the market, this would be an example of a:
binding price ceiling
not binding price ceiling
binding price floor
not binding price floor.
2.Suppo that a regulation is in place that does not allow the price of a good to fall below $10. If this price is above the equilibrium price in the market, this would be an example of a
binding price ceiling
not binding price ceiling.
binding price floor.
not binding price floor.
3.Suppo that a regulation is in place that does not allow the price of a good to exceed $5. If this price is below the equilibrium price in the market, this would be an example of a:
binding price ceiling.
not binding price ceiling.
binding price floor.
not binding price floor.
4.If a price floor is in place and it is binding, the market will:童年的好词好句
remain in equilibrium, unaffected by the price floor
experience a shortage
experience a surplus
adjust its equilibrium point toward the price floor
5.If a price ceiling is in place and it is binding, the market will:
remain in equilibrium, unaffected by the price floor.
experience a shortage
experience a surplus
河虾怎么养
adjust its equilibrium point toward the price floor
6.If a price floor is in place and it is not binding, the market will:
remain in equilibrium, unaffected by the price floor
化妆的正确步骤experience a shortage
experience a surplus
adjust its equilibrium point toward the price floor
7.If a tax is impod on buyers of a good, the ________ curve of the good will shift ________ by the amount of the tax.
demand, upward
电脑截图的快捷键是什么
demand, downward
supply, upward
supply, downward
8.If a tax is impod on llers of a good, the ________ curve of the good will shift ________ by the amount of the tax.
demand, upward
demand, downward
supply, upward
supply, downward
9.If a tax is impod on a good and the incidence of the tax ends up falling more heavily on the llers than on the buyers, this will be becau:
