4168421
Beschreibung
Quiz von 2016: Paula Jara, aktualisiert more than 1 year ago
|
Erstellt von 2016: Paula Jara
vor mehr als 8 Jahre
|
|
Frage 1
Frage
When is demand inelastic?
Antworten
-
The percentage change of quantity demanded is greater than the percentage change in price of a good.
-
The percentage change of quantity demanded is smaller than the percentage change in price of a good.
-
A relative small change in price results in a relatively big change in quantity demanded.
-
The PED is greater than 1.
Frage 2
Frage
The factors that change PES are?
Antworten
-
Time only.
-
Time and stocks only.
-
Stocks and capacities only.
-
Time, stocks, capacities, and capital labor.
Frage 3
Frage
What should a company do to raise total revenue if the product is inelastic?
Antworten
-
Lower prices.
-
Declare it an inferior good.
-
Diversify its production.
-
Raise prices.
Frage 4
Frage
The price of elasticity of demand of an elastic product can range between?
Antworten
-
-1 to 1
-
0 to 1
-
-infinity to 1
-
1 to infinity
Frage 5
Frage
When is the Xed a substitute good rather than a complementary one?
Antworten
-
When the Xed is negative
-
When it is a normal good
-
When the Xed is positive
-
Can't be determined
Frage 6
Frage
Supply is elastic if?
Antworten
-
The good in the question is a normal good
-
The slope of the supply curve is positive
-
If the curve crosses through y-axis
-
If the curve crosses through x-axis
Frage 7
Frage
If the price elasticity of demand for a product equals 1, as its price rises the
Antworten
-
Total revenue increases
-
Total revenue stays the same
-
Total revenue decreases
-
supply of good decreases
Frage 8
Frage
What is the difference between a luxury good and an inferior good.
Antworten
-
Luxury goods Yed is always positive, and elastic
-
Luxury goods Yed is always positive, and inelastic
-
Luxury goods Yed may be both inelastic and elastic
-
Luxury goods are always negative
Frage 9
Frage
In substitute goods...?
Antworten
-
Weak substitutes are elastic
-
There is no such a thing as weak substitutes
-
Strong substitutes are elastic
-
There is no such a thing as strong substitutes
Frage 10
Frage
What is the shape of the unit elastic for PED?
Antworten
-
Horizontal
-
Vertical
-
Positively diagonal
-
Rectangular hyperbola
Möchten Sie mit GoConqr kostenlos Ihre eigenen Quiz erstellen? eigenen Mehr erfahren.