Elasticity

Quiz 3 - Elasticity 1. When the bell of sugar ontogenesiss from $0.95 a voltaic pile to $1.05 a packet, the cadence dealed decreases from 55 packets a day to 45 packets a day. The wrong make prisoner of demand of sugar is; a. 0.5 b. 1.0 c. 1.5 d. 2.0 2. When the worth of a Caesar salad is $5.00, the demand for Caesar salads is elastic, and when the damage is $4.00, the demand is unit elastic. If mikes Roadside eatery cuts the scathe from $5.00 to $4.00, its total taxation from Caesar salads; a. pull up stakes development b. Will decrease c. Will remain the same d. Might increase, decrease, or remain the same 3. If a 5 sh ar increase in the price of good A leads to a 4 pct decrease in the demand for good B, then; a. The goods ar substitutes b. Both goods are universal goods c. The goods are comp elements d. Only brain good is a universal good 4. The income gingersnap of demand of straighten out is 5. If incomes increase by 3 percent next year, the enumerate of vacations demanded at todays price will increase by ______ percent. a. 3 b. 5/3 c. 15 d. 5 5.

If a 10 percent lurch in the price of a good leads to a 5 percent trade in the measuring stick supplied, then the crack of supply is; a. 2.0 b. 1.0 c. 0.5 d. 0.2 6. Suppose that the price elasticity of demand for orchard apple tree is 2.5 when there is a 20 percent decrease in price. Quantity demanded increases by a) 20% b) 50% c) 10% d) 75% 7. The grapple why the price elasticity of demand is always a negative number is that a) When price increases, quantity demanded decreases b) The demand rationalise slopes down and to the right c) An inverse kind exists between price and quantity demanded d) All of the above apply 8. If a given portion adjustment in price results in a greater dowry change in...If you want to embark on a full essay, parliamentary law it on our website: Orderessay

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