微觀經(jīng)濟學試題英文版-wenkub
2023-04-09 23:57:04 本頁面
【正文】 ding ine constant, what change must have occurred to rotate the budget line from the old line(1) to the new line(2)? (1)(2)PizzaCokeFigure 1a. The price of Coke fellb. The price of pizza fellc. The price of pizza rosed. The price of Coke went upe. b and cChoose: b) The horizontal intercept, I/PC, is unchanged, which implies that PC could not have changed (holding ine constant). Since the slope is PP/PC, the slope change means that the price of pizza must have fallen. This can also be seen intuitively from Figure 1, since the consumer can now buy more pizza than before if he spends all his ine on pizza.9. Andy buys 10 pounds of onions per month when the price is $ per pound. If the price falls to $ per pound, he buys 30 pounds of onions. What is his arc elasticity of demand over this price range?a. b.–2 c.– d. 6 e. None of the above is correct.Choose: c) Using the arc elasticity formula,The next two questions refer to the following information: Opie and Gomer are the only two consumers in the video cassette rental market in the Mayberry. Their demand curves per week are pictured in Figure 2.10. If rentals cost $ each, the total quantity demanded each week in the market is :a. 3 b. 6 c. 15 d. 10 e. None of the above is correct.Choose: b) Add horizontally to get the market demand curve. At P = $, QO = 3 and QG = 3 for a total of 6 units demanded.11. For a decrease in price from $ to $, market demand is :a. elastic. b. unit elastic. c. inelastic. d. perfectly inelastic. e. More information is needed.Choose: a) Demand is price elastic:EP = %ΔQ/%ΔP = [(156)/6]/[()/] = OPIE 3 8Quantity(number of cassettes)DoPrice($/unit) (a)Price($/unit) 3 7Quanti
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