Exam 4: Demand: the Benefit Side of the Market

If the absolute value of the percentage change in quantity demanded is smaller than the absolute value of the percentage change in price,demand is classified as being

(Multiple Choice)

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Question 21

-Refer to the table above.When the price of Good B decreases from $2 to $1,the extra utility from spending an extra dollar on Good B associated with 1 unit of consumption

(Multiple Choice)

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Question 22

If the slope of the demand curve is -1.4,price is $5 per unit,and quantity demanded is 13 units,the price elasticity of demand is

(Multiple Choice)

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Question 23

Which of the following statements is NOT an example of the law of demand?

(Multiple Choice)

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Question 24

The total utility values for the first five hamburgers consumed are 4,10,15,18,and 19,respectively.The marginal utility of the third hamburger is

(Multiple Choice)

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Question 25

A university observes that when it raises the price of hockey tickets,total revenue from hockey games increases and when it lowers the ticket price,total revenue falls.This suggests that

(Multiple Choice)

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Question 26

The introduction of the AMD Athlon microprocessor has the price elasticity of demand for Intel Celeron microprocessors,and hence Intel's ability to raise revenue through price increases.

(Multiple Choice)

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Question 27

From 1981,when IBM introduced the PC standard computer,to 2012 the price elasticity of demand for IBM computers has

(Multiple Choice)

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Question 28

-Refer to the table above.The marginal utility of the third music CD is

(Multiple Choice)

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Question 29

-Refer to the table above.If the price of Good A is $5 and the price of Good B is $4,then the rational spending rule predicts that _ units of Good A and __ units of Good B will be purchased.

(Multiple Choice)

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Question 30

The relationship between the cost of an activity and the amount of the activity consumers want is

(Multiple Choice)

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Question 31

The cross-price elasticity for cable TV and satellite TV is estimated to be 0.3.This implies that cable TV and satellite TV are

(Multiple Choice)

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Question 32

Assume that Tina has $30 in income.If the price of a loaf of bread is $1.50 and the price of a jar of peanut butter is $3,Tina can buy a maximum of _ loaves of bread or a maximum of _ jars of peanut butter.

(Multiple Choice)

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Question 33

A perfectly elastic demand curve has a slope of ,while a perfectly inelastic demand curve has a slope of .

(Multiple Choice)

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Question 34

Suppose that the demand curve for coffee is given by the equation P = 10 - 2Q.Calculate the price elasticity of demand when the price,P,is $6.

(Multiple Choice)

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Question 35

The market demand curve is

(Multiple Choice)

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Question 36

If demand for socks is given by the equation P = 32 - 5Q,the price elasticity of demand when P = $2 is

(Multiple Choice)

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Question 37

-The slope of the demand curve shown in the diagram above is

(Multiple Choice)

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Question 38

-Refer to the table above.At a price of $1.50,the total revenue of hamburger producers will be

(Multiple Choice)

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Question 39

-Refer to the table above.The marginal utility of the fourth music CD is

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Question 40

Showing 21 - 40 of 172

If the absolute value of the percentage change in quantity demanded is smaller than the absolute value of the percentage change in price,demand is classified as being

-Refer to the table above.When the price of Good B decreases from $2 to $1,the extra utility from spending an extra dollar on Good B associated with 1 unit of consumption

If the slope of the demand curve is -1.4,price is $5 per unit,and quantity demanded is 13 units,the price elasticity of demand is

Which of the following statements is NOT an example of the law of demand?

The total utility values for the first five hamburgers consumed are 4,10,15,18,and 19,respectively.The marginal utility of the third hamburger is

A university observes that when it raises the price of hockey tickets,total revenue from hockey games increases and when it lowers the ticket price,total revenue falls.This suggests that

The introduction of the AMD Athlon microprocessor has the price elasticity of demand for Intel Celeron microprocessors,and hence Intel's ability to raise revenue through price increases.

From 1981,when IBM introduced the PC standard computer,to 2012 the price elasticity of demand for IBM computers has

-Refer to the table above.The marginal utility of the third music CD is

-Refer to the table above.If the price of Good A is $5 and the price of Good B is $4,then the rational spending rule predicts that _ units of Good A and __ units of Good B will be purchased.

The relationship between the cost of an activity and the amount of the activity consumers want is

The cross-price elasticity for cable TV and satellite TV is estimated to be 0.3.This implies that cable TV and satellite TV are

Assume that Tina has $30 in income.If the price of a loaf of bread is $1.50 and the price of a jar of peanut butter is $3,Tina can buy a maximum of _ loaves of bread or a maximum of _ jars of peanut butter.

A perfectly elastic demand curve has a slope of ,while a perfectly inelastic demand curve has a slope of .

Suppose that the demand curve for coffee is given by the equation P = 10 - 2Q.Calculate the price elasticity of demand when the price,P,is $6.

The market demand curve is

If demand for socks is given by the equation P = 32 - 5Q,the price elasticity of demand when P = $2 is

-The slope of the demand curve shown in the diagram above is

-Refer to the table above.At a price of $1.50,the total revenue of hamburger producers will be

-Refer to the table above.The marginal utility of the fourth music CD is

Thinking Like an Economist

Comparative Advantage: the Basis for Exchange

Supply and Demand: an Introduction

Perfectly Competitive Supply: the Cost Side of the Market

Efficiency and Exchange

The Quest for Profit and the Invisible Hand

Monopoly and Other Forms of Imperfect Competition

Thinking Strategically

Externalities and Property Rights

The Economics of Information

Labour Markets

The Economics of Public Policy

Public Goods and Taxation

Income Distribution

Filters

Exam 4: Demand: the Benefit Side of the Market

If the absolute value of the percentage change in quantity demanded is smaller than the absolute value of the percentage change in price,demand is classified as being

-Refer to the table above.When the price of Good B decreases from $2 to $1,the extra utility from spending an extra dollar on Good B associated with 1 unit of consumption

If the slope of the demand curve is -1.4,price is $5 per unit,and quantity demanded is 13 units,the price elasticity of demand is

Which of the following statements is NOT an example of the law of demand?

The total utility values for the first five hamburgers consumed are 4,10,15,18,and 19,respectively.The marginal utility of the third hamburger is

A university observes that when it raises the price of hockey tickets,total revenue from hockey games increases and when it lowers the ticket price,total revenue falls.This suggests that

The introduction of the AMD Athlon microprocessor has ______ the price elasticity of demand for Intel Celeron microprocessors,and hence ______ Intel's ability to raise revenue through price increases.

From 1981,when IBM introduced the PC standard computer,to 2012 the price elasticity of demand for IBM computers has

-Refer to the table above.The marginal utility of the third music CD is

-Refer to the table above.If the price of Good A is $5 and the price of Good B is $4,then the rational spending rule predicts that _____ units of Good A and ______ units of Good B will be purchased.

The relationship between the cost of an activity and the amount of the activity consumers want is

The cross-price elasticity for cable TV and satellite TV is estimated to be 0.3.This implies that cable TV and satellite TV are

Assume that Tina has $30 in income.If the price of a loaf of bread is $1.50 and the price of a jar of peanut butter is $3,Tina can buy a maximum of _____ loaves of bread or a maximum of _____ jars of peanut butter.

A perfectly elastic demand curve has a slope of ______,while a perfectly inelastic demand curve has a slope of ______.

Suppose that the demand curve for coffee is given by the equation P = 10 - 2Q.Calculate the price elasticity of demand when the price,P,is $6.

The market demand curve is

If demand for socks is given by the equation P = 32 - 5Q,the price elasticity of demand when P = $2 is

-The slope of the demand curve shown in the diagram above is

-Refer to the table above.At a price of $1.50,the total revenue of hamburger producers will be

-Refer to the table above.The marginal utility of the fourth music CD is

Thinking Like an Economist

Comparative Advantage: the Basis for Exchange

Supply and Demand: an Introduction

Perfectly Competitive Supply: the Cost Side of the Market

Efficiency and Exchange

The Quest for Profit and the Invisible Hand

Monopoly and Other Forms of Imperfect Competition

Thinking Strategically

Externalities and Property Rights

The Economics of Information

Labour Markets

The Economics of Public Policy

Public Goods and Taxation

Income Distribution

Filters

The introduction of the AMD Athlon microprocessor has the price elasticity of demand for Intel Celeron microprocessors,and hence Intel's ability to raise revenue through price increases.

-Refer to the table above.If the price of Good A is $5 and the price of Good B is $4,then the rational spending rule predicts that _ units of Good A and __ units of Good B will be purchased.

Assume that Tina has $30 in income.If the price of a loaf of bread is $1.50 and the price of a jar of peanut butter is $3,Tina can buy a maximum of _ loaves of bread or a maximum of _ jars of peanut butter.

A perfectly elastic demand curve has a slope of ,while a perfectly inelastic demand curve has a slope of .