【題目】 In the short run the magnitude of the own price elasticity of demand for ice cream: is lower than in the long run. is the same as in the long run. is higher than in the long run. does not depend on the fact that ice cream can be frozen.
【題目】 Suppose that the price of eggs increases from 75 cents to $1.00 per dozen and as a result a typical farmer experiences a decrease in egg sales from 300 to 200 dozen per week. Using the method of average values, the price elasticity of demand is 3.0 1.4 0.8 1.75
【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 equal to zero. equal to one. equal(i.e., income elasticity always equals price elasticity). constant.
【題目】 What would happen to the equilibrium price and quantity of coffee if the wages of coffee-bean pickers fell and the price of tea fell? Price will fall and the effect on quantity is ambiguous. Price will rise and the effect on quantity is ambiguous. Quantity will rise and the effect on price is ambiguous. Quantity will fall and the effect on price is ambiguous.
【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 equal to the marginal cost times the markup. be greater than the marginal cost but smaller than the marginal cost times the markup. equal to the average cost. equal to the marginal cost.
【題目】 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 50 percent by 25 percent by 10 percent by 20 percent
【題目】 Good A and good B are substitutes in production. The demand for good A increases so that the price of good A rises. The increase in the price of good A shifts the supply curve of good B leftward. supply curve of good B rightward. demand curve for good B leftward. demand curve for good B rightward.
【題目】 If price exceeds average costs under pure competition, in the long run ,______ firms will enter the industry, supply will ______, and price will be driven ______. more ； increase ； up more ； increase ； down more ； decrease ； down more ； decrease ； up
【題目】 Two goods are complements if a decrease in the price of one good decreases the demand for the other good. None of above is correct the demand for the other good does not change. increases the demand for the other good.
【題目】 If a fall in the price of good A increases the quantity demanded of good B, A and B are substitutes B is a substitute for A, but A is a complement to B A and B are complements A is a substitute for B, but B is a complement to A
【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】 If the market price is higher than the equilibrium price. a surplus exists and the equilibrium price will rise until it equals the market price and the surplus is eliminated. a surplus exists and the market price will fall until it equals the equilibrium price and the surplus is eliminated. a shortage exists and the market price will fall until it equals the equilibrium price and the shortage is eliminated. a shortage exists and the equilibrium price will rise until it equals the market price and the shortage is eliminated.
【題目】 Suppose the price elasticity of demand for oil is 0.1. price elasticity of supply for oil is 0. In order to lower the price of oil by 20 percent, the quantity of oil supplied must be increased by 2 percent. 200 percent. 0.2 percent. 20 percent.
【題目】 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. decrease consumer surplus in the market for raisin bran and increase producer surplus in the market for milk. increase consumer surplus in the market for raisin bran and decrease producer surplus in the market for milk. decrease consumer surplus in the market for raisin bran and decrease producer surplus in the market for milk.
【題目】 In the short run the magnitude of the own price elasticity of demand for ice cream: is the same as in the long run. does not depend on the fact that ice cream can be frozen. is higher than in the long run. is lower than in the long run. ---答案
【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 equal to the marginal cost. ---答案 equal to the average cost. equal to the marginal cost times the markup. be greater than the marginal cost but smaller than the marginal cost times the markup. 提交答案
【題目】 Suppose that the price of eggs increases from 75 cents to $1.00 per dozen and as a result a typical farmer experiences a decrease in egg sales from 300 to 200 dozen per week. Using the method of average values, the price elasticity of demand is 3.0 1.4 ---答案 1.75 0.8
【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 constant. ------答案 equal to zero. equal(i.e., income elasticity always equals price elasticity). equal to one.
【題目】 Two goods are complements if a decrease in the price of one good the demand for the other good does not change. decreases the demand for the other good. None of above is correct increases the demand for the other good. ---答案
【題目】 If price exceeds average costs under pure competition, in the long run ,______ firms will enter the industry, supply will ______, and price will be driven ______. more ； decrease ； down more ； decrease ； up more ； increase ； down -------答案 more ； increase ； up
標籤: price