แผ่นงานElasticity of Demand Quiz
คำถามทั้งหมด: 20
The elasticity of demand is _______ in the _______ run because consumers have MORE time to adjust.
higher, short
lower, long
higher, long
lower, short
An Elasticity of 1.0 or greater is known as _______ demand.
inelastic
unit elastic
elastic
perfectly elastic
An Elasticity of exactly 1.0 is known as _______ demand.
inelastic
unit elastic
elastic
perfectly elastic
An Elasticity of between 0 and 1.0 is known as _______ demand.
inelastic
unit elastic
elastic
perfectly elastic
What is the formula used to calculate the percentage change in quantity demanded?
[QDemand(NEW) - QDemand(OLD)] / QDemand(OLD)
[Price(NEW) - Price(OLD)] / Price(OLD)
[QDemand(OLD) - QDemand(NEW)] / QDemand(NEW)
[Price(OLD) - Price(NEW)] / Price(NEW)
What is the formula used to calculate the percentage change in price?
[QDemand(NEW) - QDemand(OLD)] / QDemand(OLD)
[Price(NEW) - Price(OLD)] / Price(OLD)
[QDemand(OLD) - QDemand(NEW)] / QDemand(NEW)
[Price(OLD) - Price(NEW)] / Price(NEW)
If the price changes from 25 to 30 and the quantity demanded changes from 100 to 40, what is the % change in quantity demanded?
-60%
-50%
-40%
-30%
If the price changes from 25 to 30, what is the % change in price?
20%
25%
30%
15%
If the price changes from 40 to 70 and the quantity demanded changes from 120 to 90, what is the % change in quantity demanded?
-25%
-30%
-20%
-15%
If the price changes from 40 to 70, what is the % change in price?
50%
75%
60%
40%
If the price changes from 200 to 220 and the quantity demanded changes from 80 to 64, what is the % change in quantity demanded?
-20%
-25%
-30%
-15%
If the price changes from 200 to 220, what is the % change in price?
10%
15%
20%
5%
If the price changes from 50 to 75 and the quantity demanded changes from 150 to 135, what is the % change in quantity demanded?
-10%
-15%
-5%
-20%
If the price changes from 50 to 75, what is the % change in price?
50%
60%
40%
30%
What happens to the Elasticity of Demand if there are many substitutes for a good? Is it elastic or inelastic?
Elastic
Inelastic
Is the demand for Good X Elastic or Inelastic between $9 and $10? Use the above demand schedule to answer this.
Elastic
Inelastic
What does it mean for a good to be elastic?
It means the good is flexible in terms of quality.
It means the demand for the good changes significantly with price changes.
It means the good can be stretched physically.
It means the good is available in large quantities.
What type of demand would there be for a good that had NO substitutes? Circle One
Elastic
Inelastic
Which way would the demand curve of Good X shift if the price of Good Y (a complementary good) increased? Circle One
Left
Right
What happens to the Demand Curve of a Good X if the price of Good Y (a substitute good) increases? Explain why the demand curve for Good X changed.
Left
Right
แป้นคำตอบElasticity of Demand Quiz
คำถามทั้งหมด: 20
higher, long
elastic
unit elastic
inelastic
[QDemand(NEW) - QDemand(OLD)] / QDemand(OLD)
[Price(NEW) - Price(OLD)] / Price(OLD)
-60%
20%
-25%
75%
-20%
10%
-10%
50%
Elastic
Inelastic
It means the demand for the good changes significantly with price changes.
Inelastic
Left
Right
