【題目】 Suppose the price elasticity of demand for tickets of Taiwan High Speed Railway (THSR) is 1.5.Ceteris paribus, when THSR reduces its prices, its revenue
ANS: will go up
2020.03.05
Which of the following statements is true? Oligopolists :
all of the above
2020.03.06
Raisin bran and milk are complementary goods. A decrease in the price of raisins will
increase consumer surplus in the market for raisin bran and increase producer surplus in the market for milk
【題目】The demand for a product tends to be inelastic if.
ANS: a small proportion of consumer's income is spent on the good.
2020.03.07
The owner of a local hot dog stand has estimated that if he lowers the price of hot dogs from $2.00 to $1.50, he will increase sales from 400 to 500 hot dogs per day. Using the midpoint formula, the demand for hot dogs is
ANS：inelastic.
【題目】「微管仲，吾其被髮左衽矣。」的「微」字字義與下列何者相同？
ANS: 「微」夫人之力，不及此
2020.03.08
If cigarettes and marijuana had been found to be substitutes, a tax placed on cigarettes would
答案: increase the demand for marijuana.
【題目】You are an economist for the Taipei City Subway Commission. Presently, the price of a subway ride is $80, and 250,000 seats are filled weekly. The income elasticity of demand is -0.60. If a recession lowered area incomes by 5％, how many additional seats per week would the subway need?
ANS 7500
【題目】If a fall in the price of good A increases the quantity demanded of good B,
ANS : A and B are complements
2020.03.10
The price elasticity of demand for cigarettes is 0.4. If government wants to reduce smoking by 10 percent, by how much should it raise the price of cigarettes by imposing a tax?
by 25 percent
【題目】 In long-run equilibrium of a competitive market, the number of firms in the markets adjusts so that all of the market demand is satisfied at a price equal to
ANS : minimum average total cost
【題目】 A profit-maximizing firm in a competitive market is able to sell its product for $7. At its current level of output, the firm’s average total cost is $10. The firm’s marginal cost curve crosses its marginal revenue curve at an output level of 9 units. The firm experiences a
ANS : loss of exactly $27.
2020.03.12
The demand for Chocolate Chip Cookie ice cream is likely quite elastic because
other flavors of ice cream are good substitutes for this particular flavor.
【題目】Suppose the demand for gourmet coffee can be represented by a linear demand curve. When income rises cause the demand curve for gourmet coffee shift to the right parallelly:
ANS becomes less elastic at the price that prevailed before the change in income
2020.03.13
Nick can purchase each milkshake for $2. For the first milkshake purchased Nick is willing to pay $4, for the second milkshake $3, for the third milkshake $2 and for the fourth milkshake $1. What is the value of Nick's consumer surplus?
答案 : 3