Int Midterm Review
Quiz
•
Other
•
University
•
Easy
Lauren Banko
Used 3+ times
FREE Resource
25 questions
Show all answers
1.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
What is the equilibrium price in 1b?
2.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
What is the equilibrium quantity in 1b?
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Is the market efficient?
Yes
No
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The benefit suppliers receive in the market is called
consumer surplus
producer surplus
total surplus
deadweight loss
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
1d. Demand is
elastic
inelastic
unit elastic
perfectly inelastic
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
1d. Cross Price elasticity. These goods are:
normal
inferior
substitutes
complements
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
1d. Income elasticity. This goods is:
normal
inferior
substitutes
complements
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