題目：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 答案： inelastic.
【題目】 When demand increases and supply decreases, the equilibrium price falls, and the equilibrium quantity might increase, decrease, or remain constant. equilibrium price rises, and the equilibrium quantity might increase, decrease, or remain constant. ...
【題目】 The fallacy of composition is evident in which of the following statements? Technological progress helps everybody. If each farmer works harder all farmers will be richer. X and Y go together; therefore, X has caused Y. Whe ...
【題目】 Which of the following factors would not cause the demand curve for a given product to shift? Changes in income. Changes in the distribution of income. Changes in the price of a related good. Changes in price.
【題目】 Q ： Suppose the demand and supply functions for a certain goods are givenby: QD=10-P QS=P-4 Find the total economic surplus generated at the market equilibrium 【解答】： 9.0
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