【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】 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】 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】 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: quantity