Elasticity

Quiz 3 - Elasticity 1. When the bell of incision ontogenesiss from $0.95 a megabucks to $1.05 a packet, the cadence demanded falloffs from 55 packets a daytime to 45 packets a day. The footing catch of demand of sugar is; a. 0.5 b. 1.0 c. 1.5 d. 2.0 2. When the expense of a Caesar salad is $5.00, the demand for Caesar salads is elastic, and when the price is $4.00, the demand is social unit elastic. If mikes Roadside Restaurant cuts the price from $5.00 to $4.00, its supply taxation from Caesar salads; a. forget subjoin b. Will decrease c. Will remain the comparable d. Might increase, decrease, or remain the same 3. If a 5 sh ar increase in the price of high-priced A leads to a 4 percent decrease in the demand for good B, then; a. The goods are substitutes b. both goods are normal goods c. The goods are comp elements d. Only virtuoso good is a normal good 4. The income elasticity of demand of emit is 5. If incomes increase by 3 percent next year, the total of vacations demanded at todays price will increase by ______ percent. a. 3 b. 5/3 c. 15 d. 5 5.

If a 10 percent dislodge in the price of a good leads to a 5 percent parcel out in the measure supplied, then the elasticity of supply is; a. 2.0 b. 1.0 c. 0.5 d. 0.2 6. order t hat the price elasticity of demand for appl! e is 2.5 when there is a 20 percent decrease in price. Quantity demanded increases by a) 20% b) 50% c) 10% d) 75% 7. The fence wherefore the price elasticity of demand is always a proscribe number is that a) When price increases, quantity demanded decreases b) The demand veer slopes downhearted and to the right c) An inverse relationship exists between price and quantity demanded d) All of the above apply 8. If a given great deal change in price results in a greater percentage change in...If you want to get a in force(p) essay, gild it on our website: BestEssayCheap.com

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