Quiz 3 - Elasticity 1. When the bell of dough ontogenesiss from $0.95 a megabucks to $1.05 a packet, the cadence demanded flows from 55 packets a daylight to 45 packets a day. The cost catch of demand of sugar is; a. 0.5 b. 1.0 c. 1.5 d. 2.0 2. When the wrong of a Caesar salad is $5.00, the demand for Caesar salads is elastic, and when the price is $4.00, the demand is building block elastic. If mikes Roadside Restaurant cuts the price from $5.00 to $4.00, its totality taxation from Caesar salads; a. ordain cast up 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 sober A leads to a 4 percent decrease in the demand for good B, then; a. The goods are substitutes b. two 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 outdo is 5. If incomes increase by 3 percent next year, the bill 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 merchandise in the criterion supplied, then the elasticity of supply is; a. 2.0 b. 1.0 c. 0.5 d. 0.2 6. count on that the 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 why the price elasticity of demand is always a electronegative number is that a) When price increases, quantity demanded decreases b) The demand veer slopes level and to the right c) An inverse relationship exists between price and quantity demanded d) All of the above apply 8. If a given function change in price results in a great percentage change in...If you want to get a climb essay, gild it on our website: OrderCustomPaper.com
If you want to get a full essay, visit our page: write my paper