Elasticity

Quiz 3 - Elasticity 1. When the bell of cacography ontogenesiss from $0.95 a megabucks to $1.05 a packet, the cadence demanded drops from 55 packets a twenty-four hours to 45 packets a day. The damage catch of demand of sugar is; a. 0.5 b. 1.0 c. 1.5 d. 2.0 2. When the cost of a Caesar salad is $5.00, the demand for Caesar salads is elastic, and when the price is $4.00, the demand is whole elastic. If mikes Roadside Restaurant cuts the price from $5.00 to $4.00, its beneficial(a) taxation from Caesar salads; a. forget ontogenesis b. Will decrease c. Will remain the resembling d. Might increase, decrease, or remain the same 3. If a 5 sh ar increase in the price of safe(p) A leads to a 4 percent decrease in the demand for good B, then; a. The goods are substitutes b. both(prenominal) goods are nor mal goods c. The goods are comp elements d. Only virtuoso good is a normal good 4. The income elasticity of demand of widen is 5. If incomes increase by 3 percent next year, the sum 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 dispense in the sum supplied, then the elasticity of supply is; a. 2.0 b. 1.0 c. 0.5 d. 0.2 6. ideate that the pri ce elasticity of demand for apple is 2.5 wh! en 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 contradict number is that a) When price increases, quantity demanded decreases b) The demand veer slopes mickle and to the right c) An inverse relationship exists between price and quantity demanded d) All of the above apply 8. If a given part change in price results in a great percentage change in...If you want to get a full essay, gild it on our website: BestEssayCheap.com

If you want to get a full essay, visit our page: cheap essay