reading assignment one & two - Custom Scholars
Order Now
Home » Flash Cards » reading assignment one & two

reading assignment one & two

question
CHAPTER TWO
answer
...
question
suppose the law of demand for good X is given by Qxd = 10 + axPx + ayPy + amM. from the law of demand, we know that ax will be

-less than zero
-greater than zero
-zero
-zero or less than or greater than zero
answer
less then zero
question
a change in income will not lead to

-a movement along the demand curve
-a leftward shift of the demand curve
-a rightward shift of the demand curve
-a determinable shift in the demand curve as there is insufficient information
answer
a movement along the demand curve
question
the buyer side of the market is known as

-income side
-demand side
-supply side
-seller side
answer
demand side
question
suppose the demand for good x is given by Qxd = 10 -2Px +Py +M. the price of good x is $1, the price of good y is $10, and income is $100. given these prices and incomes, how much of good x will be purchased?

-115
-515
-1000
-none of the statements associated with this question are correct
answer
none of the statements associated with this question are correct
question
if a and b are complements, an increase in the price of good a would be

-have no effect on the quantity demanded of B
-lead to an increase in demand of B
-lead to a decrease in demand for B
-not lead to an effect on the quantity demanded of B nor an increase or decrease in the demand for B
answer
lead to a decrease in demand for B
question
suppose market demand and supply are given by Qd = 100 - 2P and Qs = 5 + 3p. the equilibrium price is

-15
-19
-17
-20
answer
$19
question
an ad valorem tax cases the supply curve to

-shift to the right
-become flatter
-become steeper
-shift to the left
answer
become steeper
question
the law of supply states that, holding all else constant, as the price of good falls,

-quantity demanded rises
-quantity supplied falls
-quantity supplied rises
-quantity demanded falls
answer
quantity supplied falls
question
changes in the price of a good lead to

-changes in the quantity supplied of the good
-changes in supply
-changes in demand
-no effects in quantity supplied or demanded
answer
changes in the quantity supplied of the good
question
the maximum legal price that can be charged in a market is

-a price floor
-an ad valorem tax
-the market equilibrium price
-a price ceiling
answer
a price ceiling
question
CHAPTER THREE
answer
...
question
a price elasticity of zero corresponds to a demand curve that is
answer
vertical
question
if apples have an own price of elasticity of -1.2, we know the demand is
answer
elastic
question
if qd for speeders falls by 10% when price increases 25%, the own price elasticity of speakers is
answer
.40
question
the quantity consumed of a good is relatively unresponsive to changes in price when
answer
inelastic
question
demand is perfectly elastic when the absolute value of own price elasticity of demand is
answer
infinite
question
the demand curve for a good is horizontal when it is
answer
a perfectly price elastic good
question
suppose Qxd = 10,000 - 2Px +3 Py - 4.5M
-Px = 100
-Py = 50
M = 2,000
answer
950 units
question
demand is more inelastic in the short-term because
answer
consumers have no time to find available substitutes
question
elasticity shows the responsiveness of the demand for a good due to changes in the price of a related good is the
answer
cross-price elasticity
question
if the cross-price elasticity between goods A+B is negative, we know the goods are
answer
complements
1 of 22
question
CHAPTER TWO
answer
...
question
suppose the law of demand for good X is given by Qxd = 10 + axPx + ayPy + amM. from the law of demand, we know that ax will be

-less than zero
-greater than zero
-zero
-zero or less than or greater than zero
answer
less then zero
question
a change in income will not lead to

-a movement along the demand curve
-a leftward shift of the demand curve
-a rightward shift of the demand curve
-a determinable shift in the demand curve as there is insufficient information
answer
a movement along the demand curve
question
the buyer side of the market is known as

-income side
-demand side
-supply side
-seller side
answer
demand side
question
suppose the demand for good x is given by Qxd = 10 -2Px +Py +M. the price of good x is $1, the price of good y is $10, and income is $100. given these prices and incomes, how much of good x will be purchased?

-115
-515
-1000
-none of the statements associated with this question are correct
answer
none of the statements associated with this question are correct
question
if a and b are complements, an increase in the price of good a would be

-have no effect on the quantity demanded of B
-lead to an increase in demand of B
-lead to a decrease in demand for B
-not lead to an effect on the quantity demanded of B nor an increase or decrease in the demand for B
answer
lead to a decrease in demand for B
question
suppose market demand and supply are given by Qd = 100 - 2P and Qs = 5 + 3p. the equilibrium price is

-15
-19
-17
-20
answer
$19
question
an ad valorem tax cases the supply curve to

-shift to the right
-become flatter
-become steeper
-shift to the left
answer
become steeper
question
the law of supply states that, holding all else constant, as the price of good falls,

-quantity demanded rises
-quantity supplied falls
-quantity supplied rises
-quantity demanded falls
answer
quantity supplied falls
question
changes in the price of a good lead to

-changes in the quantity supplied of the good
-changes in supply
-changes in demand
-no effects in quantity supplied or demanded
answer
changes in the quantity supplied of the good
question
the maximum legal price that can be charged in a market is

-a price floor
-an ad valorem tax
-the market equilibrium price
-a price ceiling
answer
a price ceiling
question
CHAPTER THREE
answer
...
question
a price elasticity of zero corresponds to a demand curve that is
answer
vertical
question
if apples have an own price of elasticity of -1.2, we know the demand is
answer
elastic
question
if qd for speeders falls by 10% when price increases 25%, the own price elasticity of speakers is
answer
.40
question
the quantity consumed of a good is relatively unresponsive to changes in price when
answer
inelastic
question
demand is perfectly elastic when the absolute value of own price elasticity of demand is
answer
infinite
question
the demand curve for a good is horizontal when it is
answer
a perfectly price elastic good
question
suppose Qxd = 10,000 - 2Px +3 Py - 4.5M
-Px = 100
-Py = 50
M = 2,000
answer
950 units
question
demand is more inelastic in the short-term because
answer
consumers have no time to find available substitutes
question
elasticity shows the responsiveness of the demand for a good due to changes in the price of a related good is the
answer
cross-price elasticity
question
if the cross-price elasticity between goods A+B is negative, we know the goods are
answer
complements
Continue to order Get a quote

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more
Live Chat+1(978) 822-0999EmailWhatsApp

Order your essay today and save 20% with the discount code BEGOOD

Order Now
seoartvin escortizmir escortelazığ escortbacklink satışbacklink saleseskişehir oto kurtarıcıeskişehir oto kurtarıcıoto çekicibacklink satışbacklink satışıbacklink satışbacklink