Exam 4: Demand: the Benefit Side of the Market

Assume that consumers in both Alberta and Quebec have identical incomes and preferences,but the price of ice cream is higher in Quebec.The rational spending rule would predict that consumers in

(Multiple Choice)

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Question 61

-Refer to the table above.Market demand for coffee at a price of $6 per kilogram is

(Multiple Choice)

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Question 62

A cross-price elasticity of 0.83 indicates the two goods are

(Multiple Choice)

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Question 63

The income elasticity of demand for chicken noodle soup is found to be -0.7.This means chicken noodle soup

(Multiple Choice)

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Question 64

A price elasticity of demand of 0.3 means a

(Multiple Choice)

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Question 65

The demand for electricity has been found to be inelastic.The most likely explanation for this finding is that

(Multiple Choice)

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Question 66

-Refer to the table above.At a price of $3.00,

(Multiple Choice)

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Question 67

The development of small satellite TV units in the 1990s caused the price elasticity of demand for cable TV to

(Multiple Choice)

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Question 68

-Refer to the table above.If the price of Good A is $2 and the price of Good B is $6,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 69

-Refer to the table above.The market demand curve indicates that,at a price of $2.50,_______ hamburgers will be demanded.

(Multiple Choice)

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Question 70

If the slope of the demand curve is -0.167,price is $8 per unit and quantity demanded is 12 units,then demand for this good is

(Multiple Choice)

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Question 71

John,Don,and Mary demand 5,7,and 3 cans of cat food,respectively,when the price is $1.50.If they are the only consumers,the market quantity demanded at a price of $1.50 is

(Multiple Choice)

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Question 72

-Refer to the table above.At a price of $7 per kilogram,

(Multiple Choice)

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Question 73

After subsistence levels of food,shelter,and clothing are provided,

(Multiple Choice)

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Question 74

The total utility to a person from owning nine cars is likely to be ______ the total utility from owning ten cars.

(Multiple Choice)

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Question 75

-Refer to the table above.Demand,between $2.40 and $2.60,is

(Multiple Choice)

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Question 76

If the percentage change in quantity demanded is zero for any percentage change in the price,demand is classified as being

(Multiple Choice)

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Question 77

Brian gets 18,23,and 25 units worth of total utility from consuming 10,11,and 12 raw oysters,respectively,and the price per oyster is 25 cents.Thus,one can infer that Brian

(Multiple Choice)

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Question 78

If,as price falls from $10 to $9,quantity demanded rises from 7 to 12 units,demand is

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Question 79

If P is the price of a good and Q is the quantity demanded of the good at that price,then the correct mathematical statement of the price elasticity of demand is

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Question 80

Showing 61 - 80 of 172

Assume that consumers in both Alberta and Quebec have identical incomes and preferences,but the price of ice cream is higher in Quebec.The rational spending rule would predict that consumers in

-Refer to the table above.Market demand for coffee at a price of $6 per kilogram is

A cross-price elasticity of 0.83 indicates the two goods are

The income elasticity of demand for chicken noodle soup is found to be -0.7.This means chicken noodle soup

A price elasticity of demand of 0.3 means a

The demand for electricity has been found to be inelastic.The most likely explanation for this finding is that

-Refer to the table above.At a price of $3.00,

The development of small satellite TV units in the 1990s caused the price elasticity of demand for cable TV to

-Refer to the table above.If the price of Good A is $2 and the price of Good B is $6,then the rational spending rule predicts that _ units of Good A and __ units of Good B will be purchased.

-Refer to the table above.The market demand curve indicates that,at a price of $2.50,_______ hamburgers will be demanded.

If the slope of the demand curve is -0.167,price is $8 per unit and quantity demanded is 12 units,then demand for this good is

John,Don,and Mary demand 5,7,and 3 cans of cat food,respectively,when the price is $1.50.If they are the only consumers,the market quantity demanded at a price of $1.50 is

-Refer to the table above.At a price of $7 per kilogram,

After subsistence levels of food,shelter,and clothing are provided,

The total utility to a person from owning nine cars is likely to be ______ the total utility from owning ten cars.

-Refer to the table above.Demand,between $2.40 and $2.60,is

If the percentage change in quantity demanded is zero for any percentage change in the price,demand is classified as being

Brian gets 18,23,and 25 units worth of total utility from consuming 10,11,and 12 raw oysters,respectively,and the price per oyster is 25 cents.Thus,one can infer that Brian

If,as price falls from $10 to $9,quantity demanded rises from 7 to 12 units,demand is

If P is the price of a good and Q is the quantity demanded of the good at that price,then the correct mathematical statement of the price elasticity of demand 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

Assume that consumers in both Alberta and Quebec have identical incomes and preferences,but the price of ice cream is higher in Quebec.The rational spending rule would predict that consumers in

-Refer to the table above.Market demand for coffee at a price of $6 per kilogram is

A cross-price elasticity of 0.83 indicates the two goods are

The income elasticity of demand for chicken noodle soup is found to be -0.7.This means chicken noodle soup

A price elasticity of demand of 0.3 means a

The demand for electricity has been found to be inelastic.The most likely explanation for this finding is that

-Refer to the table above.At a price of $3.00,

The development of small satellite TV units in the 1990s caused the price elasticity of demand for cable TV to

-Refer to the table above.If the price of Good A is $2 and the price of Good B is $6,then the rational spending rule predicts that _____ units of Good A and ______ units of Good B will be purchased.

-Refer to the table above.The market demand curve indicates that,at a price of $2.50,_______ hamburgers will be demanded.

If the slope of the demand curve is -0.167,price is $8 per unit and quantity demanded is 12 units,then demand for this good is

John,Don,and Mary demand 5,7,and 3 cans of cat food,respectively,when the price is $1.50.If they are the only consumers,the market quantity demanded at a price of $1.50 is

-Refer to the table above.At a price of $7 per kilogram,

After subsistence levels of food,shelter,and clothing are provided,

The total utility to a person from owning nine cars is likely to be ______ the total utility from owning ten cars.

-Refer to the table above.Demand,between $2.40 and $2.60,is

If the percentage change in quantity demanded is zero for any percentage change in the price,demand is classified as being

Brian gets 18,23,and 25 units worth of total utility from consuming 10,11,and 12 raw oysters,respectively,and the price per oyster is 25 cents.Thus,one can infer that Brian

If,as price falls from $10 to $9,quantity demanded rises from 7 to 12 units,demand is

If P is the price of a good and Q is the quantity demanded of the good at that price,then the correct mathematical statement of the price elasticity of demand 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

-Refer to the table above.If the price of Good A is $2 and the price of Good B is $6,then the rational spending rule predicts that _ units of Good A and __ units of Good B will be purchased.