【題目】 Consumer surplus is: the price one is willing to pay divided by its actual price negative for an inferior good the difference between the price one is willing to pay and the price one has to pay the difference between the s ...
【題目】 If the price of the Walkman is below the equilibrium price, there will be a _______ of Walkmans and the price will _______. shortage; rise shortage; fall surplus; fall surplus; rise
【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 sunk cost maximum marginal cost minimum average variable cost mini ...
【題目】 The demand for a product tends to be inelastic if. a small proportion of consumer's income is spent on the good. consumers are quick to respond to price changes. it is a normal good. it is expensive.
【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 water lily and increasing the demand for tea. reducing the quantity demanded for water lily and increasing the demand for te ...
【題目】 The statement “An increase in the price of gasoline will lead to a decrease in the amount purchases” is a positive statement. a political statement. a normative statement. a scientific statement. 答案 : a positive ...
題目： Suppose there are only two firms supplying in the market and they produce a homogeneous good. Two firms produce the good with the same constant marginal cost. Firms compete by setting price simultaneously . The equilibrium price of both firms must 答案：equal to the marginal cost. ...
【題目】 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? $2 $3 ...
【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: becomes more elastic at the price that prevailed before the change in income ...
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