OSK Ekonomi 21-40

Which of the following is not held constant in a supply schedule?

• Production technology

• The price of the good

• The prices of inputs

• Expectations

• A. Number of sellers

Suppose the income of buyers in a market for an inferior good decreases and a technological advancement occurs also. What would we expect to happen in the market?

• Equilibrium price would decrease, but the impact on equilibrium quantity would be ambiguous.

• Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous.

• Equilibrium quantity would decrease, but the impact on equilibrium price would be ambiguous.

• Equilibrium quantity and price would increase.

• Equilibrium quantity and price would decrease

Which of the following is likely to have the most price inelastic demand?

• Running shoes

• Athletic shoes

• Nike running shoes

• Nike athletic shoes

• Nike ZoomX running shoes

A family on a trip budgets $1,338 for meals and gasoline. If the price of a meal for the family is $90 and if gasoline costs $2.80 per gallon, then how many gallons of gasoline can the family buy if they buy 13 meals?

• 60

• 58

• 63

• 56

• 54

A firm produces 100 units of output at a total cost of $1,200. If fixed costs are $100,

• biaya tetap rata-rata adalah $12.

• biaya variabel rata-rata adalah $11.

• biaya variabel rata-rata adalah $12.

• biaya total rata-rata adalah $13.

• biaya total rata-rata adalah $14.

Kate is a florist. Kate can arrange 15 bouquets per day. She is considering hiring her husband Amir to work for her. Together Kate and Amir can arrange 23 bouquets per day. What is Amir's marginal product?

• 38 buket

• 23 buket

• 17 buket

• 8 buket

• 19 buket

If a profit-maximizing monopolist faces a downward-sloping market demand curve, its

• average revenue is less than the price of the product.

• average revenue is less than marginal revenue.

• marginal revenue is less than the price of the product.

• marginal revenue is greater than the price of the product.

• average revenue is less than marginal revenue but greater than the price of the product

When a market is monopolistically competitive, the typical firm in the market is likely to experience a

• positive profit in the short run and in the long run.

• positive or negative profit in the short run and a zero profit in the long run.

• zero profit in the short run and a positive or negative profit in the long run.

• zero profit in the short run and in the long run.

• positive or negative profit both in the short run and in the long run

Suppose the equilibrium price of a stick of deodorant is $4, and the government imposes a price floor of $5 per stick. As a result of the price floor, the

• demand curve for deodorant shifts to the left.

• supply curve for deodorant shifts to the right.

• quantity demanded of deodorant decreases, and the quantity of deodorant that firms want to supply increases.

• quantity supplied of deodorant stays the same.

• quantity demanded of deodorant increases, and the quantity of deodorant that firms want to supply decreases

Amari has two jobs, one for the winter and one for the summer. In the winter, he works as a lift attendant at a ski resort where he earns $18 per hour. During the summer, he drives a tour bus around the ski resort, earning $13 per hour. Assume that Amari has an upward- sloping labor supply curve. If the opportunity cost of Amari's leisure time increases, he will respond by working

• more hours.

• fewer hours.

• an equal number of hours.

• More hours in the winter and fewer hours in the summer

• a number of hours that cannot be determined from the information. The labor demand curve is needed to make this determination.