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: 答案：becomes less elastic at the price that prevailed before the change in income
【題目】 A freeze that destroys half of the water lily crop in Tainan would likely raise the price of water lily. reducing the demand for both water lily and tea. reducing the demand for water lily and increasing the demand for tea. reducing the ...
【題目】：Assume that we have a demand curve of the form.log(Q)=a-b×log(P)+c×log(I), where Q=quantity, P=price, I=income, and a, b, and c are positive constants. The income and price elasticities for the demand curve represented above are always 【答案】：constant.
【題目】：「Last October, due to an early frost, the price for a pumpkin increased by 10 percent.As a result, the quantity demanded decreased from 2 million to 1.5 million.」 Based on this statement, the 【答案】：demand for pumpkins is elastic.
【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 【答案】：l ...
【題目】：The expansion of capital that can occur in the long-run but not in the short-run, means that the long-run supply is 【答案】：more elastic than the short-run supply curve.
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