哈伯德英文版微观经济学练习c06

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1、Microeconomics-Testbank1(Hubbard/O'Brien)Chapter6Elasticity:TheResponsivenessofDemandandSupply1)Priceelasticityofdemandmeasures:A)howresponsivetopricechangessuppliersare.B)howresponsivesalesaretochangesinthepriceofarelatedgood.C)howresponsivequantitydemandedistoachangeinprice.D)howresponsivesalesar

2、etoachangeinbuyers'incomes.2)Thepriceelasticityofdemandisequalto:A)theslopevalueofthesupplycurve.B)theslopevalueofthedemandcurve.C)thepercentagechangeinpricedividedbythepercentagechangeinquantitydemanded.D)thepercentagechangeinquantitydemandeddividedbythepercentagechangeinprice.3)Ifthepriceofgasoli

3、neincreases30percentandthiscausesthequantitydemandedtofall15percent,theelasticityofdemandisequalto:A)minus450.B)minus2.C)minus0.5.D)minus15.4)Theelasticityofdemandisalwaysnegativebecause:A)ofthelawofsupply.B)ofthelawofdemand.C)itdependsonpercentages.D)itdependsonwhetherornotdemandshiftsornotwhenpri

4、cechanges.5)Ifthepercentagechangeinpriceis20percentandtheelasticityofdemandvalueisminus5,thenquantitydemanded:A)willincrease100percent.B)willincreaseby5percent.C)willdecreaseby100percent.D)Impossibletodeterminewithoutadditionalinformation.6)Ahorizontaldemandcurveis:A)perfectlyinelastic.B)perfectlye

5、lastic.C)unitelastic.D)relativelyelastic.7)Averticaldemandcurveis:A)perfectlyinelastic.B)perfectlyelastic.C)unitelastic.D)relativelyelastic.Referto6.1forthequestionsbelow.Figure6.18)Infigure6.1,thedemandcurvethatisperfectlyinelasticis:A)grapha.B)graphb.C)graphc.D)noneoftheabove.9)Infigure6.1,thedem

6、andcurvethatisperfectlyelasticis:A)grapha.B)graphb.C)graphc.D)noneoftheabove.10)Infigure6.1,thedemandcurveonwhichelasticitychangesateverypointis:A)grapha.B)graphb.C)graphc.D)noneoftheabove.11)If20unitsaresoldatapriceof$60and30unitsaresoldatapriceof$40,thentheelasticityofdemandcalculatedusingthemidp

7、ointformulais:A)minus1.B)minus1.8.C)minus.16.D)noneoftheabove.12)If20unitsaresoldatapriceof$50and30unitsaresoldatapriceof$40,thentheelasticityofdemandcalculatedusingthemidpointformulais:A)minus0.56.B)minus1