超星 - Chapter 4

判断题

Supply is likely to be inelastic if firms have lots of spare capacity.

A. 对
B. 错

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判断题

Supply is likely to be more elastic in the short run than the long run.

A. 对
B. 错

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单选题

If the absolute value of the price elasticity of demand for dry white wine isgreater than one, a decrease in the price of all wine would result in:

A more than proportional decrease in the quantity of dry white wine purchased
B. A less than proportional decrease in the quantity of dry white wine purchased
C. A less than proportional increase in the quantity of dry white wine purchased
D. A more than proportional increase in the quantity of dry white wine purchased

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单选题

What is the likely impact of a price rise for a low price but high quality fishand chip shop with few substitutes?

A. Demand will rise by less than the price rise
B. Demand stays the same
C. Demand falls by a greater percent than the price rise
Demand falls by a lower % than the price increase as a %

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单选题

Using the simple method, what is the price elasticity of demand of product X as price falls from its current price of $20 to $15? The Quantity rise from 10 to 15

A. 0.5
B. 1
C. 1 .5
D. 2

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单选题

A firm's product has a price elasticity of demand of -2. A 10% fall in the price of the product will cause which of the following?

A. Sales volume will increase by 20%
B. Total revenue will decrease by 20%.
C. Sales volume will increase by 5%.
D. Total revenue will increase by 20%.

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单选题

If the demand for a good is price inelastic, which of the following is true?

A. When the price of the good rises, the quantity demanded falls but total expenditure on the goodincreases.
B. When the price of the good rises, the quantity demanded falls and total expenditure on the gooddecreases.
C. When the price of the good rises, the quantity demanded rises and total expenditure on the goodincreases.
D. When the price of the good rises, the quantity demanded falls but total expenditure on the good is unchanged.

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单选题

Which of the following is most likely to reduce the price elasticity of demand for a product?

A. Increased passage of time since prices changed
B. Greater availability of substitutes
C. High costs to consumer of switching to a substitute product
D. Lower product differentiation

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多选题

Which THREE of the following are likely to mean that the supply of a product is price elastic?

A. There is a shortage of a raw material needed to make the product.
B. There are high levels of unemployment among workers with the skills required to make the product.
C. The firm making the product has spare capacity in its manufacturing process.
D. It is difficult for the firm to switch resources away from producing alternative products.
E. The firm has high inventory levels of the finished product.

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多选题

lf a firm increases its price, which TWO of the following is true, if price elasticity of demand is unitary?

A. Total costs will fall
B. Total profit will fall
C. The number of units sold will remain the same
D. Total revenue will stay the same.

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