【題目】 If a price increase of 5 percent increases the quantity demanded of another good by 2 percent, the goods must be and the cross elasticity of demand equals substitutes; 2.5. complements;- 0.4 complements; -2.5. substitutes; 0.4.
【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】 Suppose the price of a good rises. When will the resulting substitution effect reduce the quantity demanded of the good? Whenever the good is a non-Giffen good. Only when the good is inferior. Only when the good is normal. Always.
【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 demand for pumpkins is unit elastic. demand for pumpkins is elastic. demand for pumpkins is inelastic. demand curve for pumpkins shifted rightward.
【題目】 If a price increase of 5 percent increases the quantity demanded of another good by 2 percent, the goods must be and the cross elasticity of demand equals substitutes; 0.4. -----答案 complements;- 0.4 substitutes; 2.5. complements; -2.5.
標籤: demanded