4169402
Descrição
Quiz por jrabinovich, atualizado more than 1 year ago
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Criado por jrabinovich
mais de 8 anos atrás
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Questão 1
Questão
An elasticity greater than 1 is?
Responda
-
Inelastic
-
Elastic
-
Perfectly inelastic
Questão 2
Questão
What line is used to construct the LRAC?
Responda
-
SRAC
-
Demand
-
Supply
Questão 3
Questão
What is effective demand?
Responda
-
When you want something but you can't afford it.
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When you want something and you can afford it.
-
When you want something but it's frowned upon to have it.
Questão 4
Questão
What would be the strongest substitute good for pepsi?
Responda
-
Polly-o cheese
-
Water
-
Coca-Cola
Questão 5
Questão
If the demand for milk increases, the supply of leather will decrease.
Responda
- True
- False
Questão 6
Questão
Fixed costs are?
Responda
-
Cost that vary directly with output.
-
Prices that are rigged in order to create an advantage.
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Prices that don't vary directly with output.
Questão 7
Questão
Absolute advantage is when?
Responda
-
One country can produce more of a product than another using the same resources.
-
One country has a time advantage over another in terms of war.
Questão 8
Questão
The better the brand name, the better chances it has to survive in a perfect competition scenario.
Responda
- True
- False
Questão 9
Questão
Utils are the measurement of dollars spent in goods.
Responda
- True
- False
Questão 10
Questão
What is happening when a point is inside the PDF line.
Responda
-
The country is producing everything efficiently
-
The country is at allocative efficiency
-
the country isn't producing at prime levels
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