4177015
Beschreibung
Quiz von asilva9263, aktualisiert more than 1 year ago
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Erstellt von asilva9263
vor fast 9 Jahre
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Frage 1
Frage
Good X has a PED of 1.2, Good Y has a PED of 0.8. If the XED of good X is 2.3. What is the percent change in price of good X if the demand of good Y changes by 55%?
Antworten
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158.125%
-
68.75%
-
131.771%
-
55%
Frage 2
Frage
Which of the following products will experience a price change due to the current drought in Colombia?
Select all that apply
Antworten
-
Corn
-
Airplane tickets
-
Roses
-
Colombian Gold
-
Cars
-
School tuition
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Night at a hotel
Frage 3
Frage
The study of economics wouldn't be as easy if it wasn't for which of the following?
Antworten
-
Ceteris Paribus
-
Government
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Free Trade
-
The 4 scarce resources
Frage 4
Frage
If total cost is equal to variable cost + fixed cost what would explain that Change in TC is equal to change in VC?
Antworten
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With ceteris paribus FC should not be taken into account
-
FC is not a measure of money so it is irrelevant
-
Change in FC=0
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The statement in the question is not true
Frage 5
Frage
Which of the following goods will never have disutility.
Antworten
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Money
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Rare items
-
Collections
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All of the above
Frage 6
Frage
Which of the following mathematical equations explain why a PED rectangular hyperbola curve will always be unitary elastic?
Antworten
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y=mx+b
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f'(x)=(dy)/(dx)
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y'=lnx
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y=1/x
Frage 7
Frage
The price of airplane tickets increases by 257%, which of the following goods will be demanded more?
select all that apply
Antworten
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Haircuts
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Local goods over imported goods
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Train tickets
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Car wheels
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Music Discs
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books
Frage 8
Frage
What explains that PES is unitary elastic when its curve touches the origin?
Antworten
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Y=mX so they change proportionally
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It's in between being inelastic and elastic
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it doesn't have a y intercept
-
The Free origin law of economics
Frage 9
Frage
Which of the following are examples of internal economies of scale?
Check all that apply
Antworten
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The government lower taxes
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there is a new cinema 2 blocks away from your business
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the company buys raw materials by bulk
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the company has great communication within itself
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the company has a greedy manager
Frage 10
Frage
The PED curve has a direct relationship with the AD curve
Antworten
- True
- False
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