A) greater than total revenue. B) equal to the profit firms earn. C) less than total revenue. D) unrelated to the revenue firms collect. E) equal to total revenue. A) greater than total revenue. B) equal to the profit firms earn. C) less than total revenue. D) unrelated to the revenue firms collect. E) equal to total revenue.

Exam 4: Demand: the Benefit Side of the Market

When the price of a good rises,the ratio of the marginal utility of that good divided by its price _ and,as a result,consumers purchase _of that good.

(Multiple Choice)

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Question 101

The price elasticity of demand is the

(Multiple Choice)

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Question 102

Goods and services are valuable to consumers

(Multiple Choice)

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Question 103

-Refer to the graph above.Between points A and B,demand is

(Multiple Choice)

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Question 104

Generally speaking,demand for a good will be more inelastic

(Multiple Choice)

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Question 105

A change in the price of a good has two effects on quantity demanded;these are the

(Multiple Choice)

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Question 106

Assume that Vera has $30 in income and that the price of a loaf of bread is $1.50 and the price of a jar of peanut butter is $3.If Vera's income increases from $30 to $45,the rational spending rule would predict that Vera would buy

(Multiple Choice)

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Question 107

Which of the following is NOT true of total expenditure?

(Multiple Choice)

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Question 108

Given the following demand curve,P = 62.5 - 0.167Q,when P = $38,demand is classified as being

(Multiple Choice)

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Question 109

-Refer to the above diagram.Between points A and B,marginal utility is ,so total utility is .

(Multiple Choice)

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Question 110

Total expenditure is

(Multiple Choice)

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Question 111

Assume that the short-run price elasticity of demand for electricity is 0.03 and the long-run price elasticity of demand is 1.1.The short-run elasticity is classified as being _ and the long-run elasticity is classified as being ___.

(Multiple Choice)

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Question 112

-Refer to the table above.Demand,between $2.60 and $2.80,is

(Multiple Choice)

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Question 113

The tendency for consumers to purchase more of a good or service as its price falls is called the

(Multiple Choice)

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Question 114

Assume that the marginal utility of the third candy bar is 15,the marginal utility of the first tube of toothpaste is 12,the price of a candy bar is $1.50 per bar and the price of toothpaste is $2.00 per tube.If Tom buys three candy bars and one tube of toothpaste,is he applying the rational spending rule correctly?

(Multiple Choice)

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Question 115

Assume that the consumer is correctly applying the rational spending rule for goods X and Z.The proper sequence of events is

(Multiple Choice)

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Question 116

The law of demand indicates that,as the cost of an activity

(Multiple Choice)

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Question 117

The _________ is the change in the quantity demanded of a good that occurs because a change in the price of the good changes the real income of the purchaser.

(Multiple Choice)

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Question 118

The per-unit price of a good multiplied by the quantity of units sold measures

(Multiple Choice)

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Question 119

If the demand for computers is elastic,this means that

(Multiple Choice)

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Question 120

Showing 101 - 120 of 172

When the price of a good rises,the ratio of the marginal utility of that good divided by its price _ and,as a result,consumers purchase _of that good.

The price elasticity of demand is the

Goods and services are valuable to consumers

-Refer to the graph above.Between points A and B,demand is

Generally speaking,demand for a good will be more inelastic

A change in the price of a good has two effects on quantity demanded;these are the

Assume that Vera has $30 in income and that the price of a loaf of bread is $1.50 and the price of a jar of peanut butter is $3.If Vera's income increases from $30 to $45,the rational spending rule would predict that Vera would buy

Which of the following is NOT true of total expenditure?

Given the following demand curve,P = 62.5 - 0.167Q,when P = $38,demand is classified as being

-Refer to the above diagram.Between points A and B,marginal utility is ,so total utility is .

Total expenditure is

Assume that the short-run price elasticity of demand for electricity is 0.03 and the long-run price elasticity of demand is 1.1.The short-run elasticity is classified as being _ and the long-run elasticity is classified as being ___.

-Refer to the table above.Demand,between $2.60 and $2.80,is

The tendency for consumers to purchase more of a good or service as its price falls is called the

Assume that the consumer is correctly applying the rational spending rule for goods X and Z.The proper sequence of events is

The law of demand indicates that,as the cost of an activity

The _________ is the change in the quantity demanded of a good that occurs because a change in the price of the good changes the real income of the purchaser.

The per-unit price of a good multiplied by the quantity of units sold measures

If the demand for computers is elastic,this means that

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

When the price of a good rises,the ratio of the marginal utility of that good divided by its price _______ and,as a result,consumers purchase _______of that good.

The price elasticity of demand is the

Goods and services are valuable to consumers

-Refer to the graph above.Between points A and B,demand is

Generally speaking,demand for a good will be more inelastic

A change in the price of a good has two effects on quantity demanded;these are the

Assume that Vera has $30 in income and that the price of a loaf of bread is $1.50 and the price of a jar of peanut butter is $3.If Vera's income increases from $30 to $45,the rational spending rule would predict that Vera would buy

Which of the following is NOT true of total expenditure?

Given the following demand curve,P = 62.5 - 0.167Q,when P = $38,demand is classified as being

-Refer to the above diagram.Between points A and B,marginal utility is __________,so total utility is __________.

Total expenditure is

Assume that the short-run price elasticity of demand for electricity is 0.03 and the long-run price elasticity of demand is 1.1.The short-run elasticity is classified as being ___________ and the long-run elasticity is classified as being _____________.

-Refer to the table above.Demand,between $2.60 and $2.80,is

The tendency for consumers to purchase more of a good or service as its price falls is called the

Assume that the consumer is correctly applying the rational spending rule for goods X and Z.The proper sequence of events is

The law of demand indicates that,as the cost of an activity

The _________ is the change in the quantity demanded of a good that occurs because a change in the price of the good changes the real income of the purchaser.

The per-unit price of a good multiplied by the quantity of units sold measures

If the demand for computers is elastic,this means that

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

When the price of a good rises,the ratio of the marginal utility of that good divided by its price _ and,as a result,consumers purchase _of that good.

-Refer to the above diagram.Between points A and B,marginal utility is ,so total utility is .

Assume that the short-run price elasticity of demand for electricity is 0.03 and the long-run price elasticity of demand is 1.1.The short-run elasticity is classified as being _ and the long-run elasticity is classified as being ___.