Exam 3: Quantitative Demand Analysis

Suppose the equilibrium price in the market is $100 and the marginal revenue associated with the linear (inverse) demand function is $50.Then we know that the own price elasticity of demand is

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Question 41

Suppose Q _x^d = 10,000 - 2 P_x + 3 P_y - 4.5M, where P_x = $100, P_y = $50, and M = $2,000.How much of good X is consumed?

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Question 42

Demand is perfectly elastic when the absolute value of the own price elasticity of demand is:

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Question 43

The demand for good X has been estimated by Q _x^d = 12 - 3P_x + 4P_y.Suppose that good X sells at $2 per unit and good Y sells for $1 per unit.Calculate the own price elasticity.

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Question 44

Non-fed ground beef is an inferior good.In economic booms, grocery managers should

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Question 45

Suppose the monthly demand for soda by a consumer is given by

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Question 46

If there are few close substitutes for a good, demand tends to be relatively

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Question 47

The cross-price elasticity of demand for textbooks and copies of old exams is -3.5.If the price of copies of old exams increase by 10 percent, the quantity demanded of textbooks will

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Question 48

Determine the t statistic of the estimated slope coefficient for disposable income (point G) and whether that estimate slope coefficient is statistically significant at the 5 percent level.

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Question 49

When marginal revenue is zero, demand will be

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Question 50

If quantity demanded for sneakers falls by 10% when price increases 25% we know that the absolute value of the own-price elasticity of sneakers is:

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Question 51

The demand for good X is estimated to be Q_x^d = 10,000 - 4P_X + 5P_Y + 2M + A_X, where P_X is the price of X, P_Y is the price of good Y, M is income and A_X is the amount of advertising on X.Suppose the present price of good X is $50, P_Y = $100, M = $25,000, and A_X = 1,000 units.What is the own-price elasticity of demand for good X?

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Question 52

If the absolute value of the own-price elasticity of steak is 0.4, a decrease in price will lead to:

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Question 53

Suppose the demand function is given by Q_x^d = 8P_x^0.5 P_y^0.25 M^0.12 H.Then good x is:

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Question 54

Suppose the equilibrium price in the market is $10 and the price elasticity of demand for the linear demand function at the market equilibrium is -1.25.Then we know that

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Question 55

Suppose a regression with 51 observations returns a regression sum of squares of 56,000 and a total sum of squares of 250,000.The corresponding R² is

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Question 56

Suppose the demand function is Q _x^d = 100 - 8P_x + 6P_y B M.If P_x = $4, P_y = $2, and M = $10, what is the cross-price elasticity of good x with respect to the price of good y?

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Question 57

Since most consumers spend very little on salt, a small increase in the price of salt will

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Question 58

The elasticity of demand for gasoline has been estimated to be 2.0, and the standard error is 1.0.The upper and lower bounds on the 95 percent confidence interval for the elasticity of demand for gasoline are

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Question 59

A firm derives revenue from two sources: goods X and Y.Annual revenues from good X and Y are $10,000 and $20,000, respectively.If the price elasticity of demand for good X is -2.0 and the cross-price elasticity of demand between Y and X is 1.5 then a 4 percent price increase will

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Question 60

Showing 41 - 60 of 166

Suppose the equilibrium price in the market is $100 and the marginal revenue associated with the linear (inverse) demand function is $50.Then we know that the own price elasticity of demand is

Suppose Q _x^d = 10,000 - 2 P_x + 3 P_y - 4.5M, where P_x = $100, P_y = $50, and M = $2,000.How much of good X is consumed?

Demand is perfectly elastic when the absolute value of the own price elasticity of demand is:

The demand for good X has been estimated by Q _x^d = 12 - 3P_x + 4P_y.Suppose that good X sells at $2 per unit and good Y sells for $1 per unit.Calculate the own price elasticity.

Non-fed ground beef is an inferior good.In economic booms, grocery managers should

Suppose the monthly demand for soda by a consumer is given by

If there are few close substitutes for a good, demand tends to be relatively

The cross-price elasticity of demand for textbooks and copies of old exams is -3.5.If the price of copies of old exams increase by 10 percent, the quantity demanded of textbooks will

Determine the t statistic of the estimated slope coefficient for disposable income (point G) and whether that estimate slope coefficient is statistically significant at the 5 percent level.

When marginal revenue is zero, demand will be

If quantity demanded for sneakers falls by 10% when price increases 25% we know that the absolute value of the own-price elasticity of sneakers is:

If the absolute value of the own-price elasticity of steak is 0.4, a decrease in price will lead to:

Suppose the demand function is given by Q_x^d = 8P_x^0.5 P_y^0.25 M^0.12 H.Then good x is:

Suppose the equilibrium price in the market is $10 and the price elasticity of demand for the linear demand function at the market equilibrium is -1.25.Then we know that

Suppose a regression with 51 observations returns a regression sum of squares of 56,000 and a total sum of squares of 250,000.The corresponding R² is

Suppose the demand function is Q _x^d = 100 - 8P_x + 6P_y B M.If P_x = $4, P_y = $2, and M = $10, what is the cross-price elasticity of good x with respect to the price of good y?

Since most consumers spend very little on salt, a small increase in the price of salt will

The elasticity of demand for gasoline has been estimated to be 2.0, and the standard error is 1.0.The upper and lower bounds on the 95 percent confidence interval for the elasticity of demand for gasoline are

A firm derives revenue from two sources: goods X and Y.Annual revenues from good X and Y are $10,000 and $20,000, respectively.If the price elasticity of demand for good X is -2.0 and the cross-price elasticity of demand between Y and X is 1.5 then a 4 percent price increase will

The Fundamentals of Managerial Economics

Market Forces: Demand and Supply

The Theory of Individual Behavior

The Production Process and Costs

The Organization of the Firm

The Nature of Industry

Managing in Competitive, Monopolistic, and Monopolistically Competitive Markets

Basic Oligopoly Models

Game Theory: Inside Oligopoly

Pricing Strategies for Firms With Market Power

The Economics of Information

Advanced Topics in Business Strategy

A Managers Guide to Government in the Marketplace

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Exam 3: Quantitative Demand Analysis

Suppose the equilibrium price in the market is $100 and the marginal revenue associated with the linear (inverse) demand function is $50.Then we know that the own price elasticity of demand is

Suppose Q xd = 10,000 - 2 Px + 3 Py - 4.5M, where Px = $100, Py = $50, and M = $2,000.How much of good X is consumed?

Demand is perfectly elastic when the absolute value of the own price elasticity of demand is:

The demand for good X has been estimated by Q xd = 12 - 3Px + 4Py.Suppose that good X sells at $2 per unit and good Y sells for $1 per unit.Calculate the own price elasticity.

Non-fed ground beef is an inferior good.In economic booms, grocery managers should

Suppose the monthly demand for soda by a consumer is given by

If there are few close substitutes for a good, demand tends to be relatively

The cross-price elasticity of demand for textbooks and copies of old exams is -3.5.If the price of copies of old exams increase by 10 percent, the quantity demanded of textbooks will

Determine the t statistic of the estimated slope coefficient for disposable income (point G) and whether that estimate slope coefficient is statistically significant at the 5 percent level.

When marginal revenue is zero, demand will be

If quantity demanded for sneakers falls by 10% when price increases 25% we know that the absolute value of the own-price elasticity of sneakers is:

If the absolute value of the own-price elasticity of steak is 0.4, a decrease in price will lead to:

Suppose the demand function is given by Qxd = 8Px0.5 Py0.25 M0.12 H.Then good x is:

Suppose the equilibrium price in the market is $10 and the price elasticity of demand for the linear demand function at the market equilibrium is -1.25.Then we know that

Suppose a regression with 51 observations returns a regression sum of squares of 56,000 and a total sum of squares of 250,000.The corresponding R2 is

Suppose the demand function is Q xd = 100 - 8Px + 6Py B M.If Px = $4, Py = $2, and M = $10, what is the cross-price elasticity of good x with respect to the price of good y?

Since most consumers spend very little on salt, a small increase in the price of salt will

The elasticity of demand for gasoline has been estimated to be 2.0, and the standard error is 1.0.The upper and lower bounds on the 95 percent confidence interval for the elasticity of demand for gasoline are

A firm derives revenue from two sources: goods X and Y.Annual revenues from good X and Y are $10,000 and $20,000, respectively.If the price elasticity of demand for good X is -2.0 and the cross-price elasticity of demand between Y and X is 1.5 then a 4 percent price increase will

The Fundamentals of Managerial Economics

Market Forces: Demand and Supply

The Theory of Individual Behavior

The Production Process and Costs

The Organization of the Firm

The Nature of Industry

Managing in Competitive, Monopolistic, and Monopolistically Competitive Markets

Basic Oligopoly Models

Game Theory: Inside Oligopoly

Pricing Strategies for Firms With Market Power

The Economics of Information

Advanced Topics in Business Strategy

A Managers Guide to Government in the Marketplace

Filters

Suppose Q _x^d = 10,000 - 2 P_x + 3 P_y - 4.5M, where P_x = $100, P_y = $50, and M = $2,000.How much of good X is consumed?

The demand for good X has been estimated by Q _x^d = 12 - 3P_x + 4P_y.Suppose that good X sells at $2 per unit and good Y sells for $1 per unit.Calculate the own price elasticity.

Suppose the demand function is given by Q_x^d = 8P_x^0.5 P_y^0.25 M^0.12 H.Then good x is:

Suppose a regression with 51 observations returns a regression sum of squares of 56,000 and a total sum of squares of 250,000.The corresponding R² is

Suppose the demand function is Q _x^d = 100 - 8P_x + 6P_y B M.If P_x = $4, P_y = $2, and M = $10, what is the cross-price elasticity of good x with respect to the price of good y?