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

A. 对
B. 错

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

A. 对 B. 错

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:

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

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 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. 对
B. 错