QUIZ

Discuss the different forms of discrimination (individual v Institutional).
October 31, 2020
How can you reconcile a bankruptcy declaration with a management pledged to maximize shareholder wealth?
October 31, 2020

When does an increase in revenue follow from a price increase?

anever

bwhen the product is an inferior good

cwhen supply is elastic

dwhen demand is inelastic

5 points

QUESTION 2The demand for margarine is quite price sensitive Which of the following contributes to its demand being so elastic?

aMargarine is a broad market category that encompasses several specific brands and products

bMargarine purchases are a small fraction of any consumer’s total spending

cThe amount of margarine produces make cannot change quickly in response to price movements

dMargarine has close substitutes, namely shortening and butter

5 points

QUESTION 3Suppose the cross-price elasticity of portable hard drives on cloud-based storage was 038 How are portable hard drives and cloud-based storage related?

aportable hard drives and cloud-based storage are unrelated goods

bportable hard drives and cloud-based storage are substitutes

cportable hard drives and cloud-based storage are both normal goods

dportable hard drives and cloud-based storage are complements

5 points

QUESTION 4The income elasticity of rice in Pakistan is estimated as -0251 If incomes in Pakistan increase, what does the model of supply and demand predict for the rice market?

aa decrease in rice consumption and decrease in price

ba decrease in rice consumption and increase in price

can increase in rice consumption and decrease in price

dan increase in rice consumption and increase in price

5 points

QUESTION 5If a binding price floor were placed on a competitive market, which of the following would not result?

aan excess or surplus

ban increase in quantity traded

ca decline in quantity demanded

dan increase in the price producers receive

4 points

QUESTION 6Suppose the gate fee at a national park increases from $25 to $35 while no other variables change In consequence, the daily quantity of visitors decreases from 3,200 to 2,800 Calculate the absolute value of the price elasticity of demand for this price range (using the average price and quantity)

Answers must be within 001 of the true value to be counted as correct The answer will be a positive number

4 points

QUESTION 7Demand is described by P=21-003Q+0001A, where A is the industry-wide spending on advertising Supply is described by P=7+001Q Calculate the equilibrium quantity if A=10,000

Answers must be within 10 of the actual value to be counted as correct Do not include spaces or plus signs

3 points

QUESTION 8Demand is described by P=21-003Q+0001A, where A is the industry-wide spending on advertising Supply is described by P=7+001Q Calculate the equilibrium price if A=10,000

Answers must be within 02 of the actual value to be counted as correct Do not include spaces, dollar signs, or plus signs

3 points

QUESTION 9Demand is described by P=21-003Q+0001A, where A is the industry-wide spending on advertising Supply is described by P=7+001Q Calculate the equilibrium quantity if adveristing is cut to 2000 (A=2000)

Answers must be within 10 of the actual value to be counted as correct Do not include spaces or plus signs

3 points

QUESTION 10Demand is described by P=21-003Q+0001A, where A is the industry-wide spending on advertising Supply is described by P=7+001Q Calculate the equilibrium price if A=2000

Answers must be within 02 of the actual value to be counted as correct Do not include spaces, dollar signs, or plus signs

trbet giriş - kronosslot -

lavivabet giriş

trbet giriş - kronosslot -

lavivabet giriş

trbet giriş - kronosslot -

lavivabet giriş