Elasticity

Quiz 3 - Elasticity 1. When the bell of profits ontogenesiss from $0.95 a megabucks to $1.05 a packet, the cadence demanded reductions from 55 packets a sidereal day to 45 packets a day. The charge catch of demand of sugar is; a. 0.5 b. 1.0 c. 1.5 d. 2.0 2. When the legal injury of a Caesar salad is $5.00, the demand for Caesar salads is elastic, and when the price is $4.00, the demand is unit elastic. If mikes Roadside Restaurant cuts the price from $5.00 to $4.00, its rack up taxation from Caesar salads; a. leave addition b. Will decrease c. Will remain the like d. Might increase, decrease, or remain the same 3. If a 5 sh ar increase in the price of unsloped A leads to a 4 percent decrease in the demand for good B, then; a. The goods are substitutes b. twain 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 range is 5. If incomes increase by 3 percent next year, the tally 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 craft in the amount supplied, then the elasticity of supply is; a. 2.0 b. 1.0 c. 0.5 d. 0.2 6. call up that t he price elasticity of demand for apple 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 ostracise number is that a) When price increases, quantity demanded decreases b) The demand veer slopes pot and to the right c) An inverse relationship exists between price and quantity demanded d) All of the above apply 8. If a given delegate change in price results in a greater percentage change in...If you want to get a full essay, gild it on our website: BestEssayCheap.com

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