Int Midterm Review

Int Midterm Review

University

25 Qs

quiz-placeholder

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Int Midterm Review

Int Midterm Review

Assessment

Quiz

Other

University

Practice Problem

Easy

Created by

Lauren Banko

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25 questions

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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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