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Sec 5.3 MC Three Applications of Supply, Demand, and Elasticity

Sec 5.3 MC Three Applications of Supply, Demand, and Elasticity

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时间：2019-09-22

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1、1. Adecreaseinsupplywillcausethelargestincreaseinpricewhen a. bothsupplyanddemandareinelastic. b. bothsupplyanddemandareelastic. c. demandiselasticandsupplyisinelastic. d. demandisinelasticandsupplyiselastic.ANSWER:  aDIFFICULTY:  ChallengingLEARNING OBJECTIVES:  ECON.

2、MANK.090-Evaluatethepriceelasticityofsupply.TOPICS:  ElasticityKEYWORDS:  BLOOM'S:AnalysisCUSTOM ID:  001.05.3-MC-MANK082. Adecreaseinsupplywillcausethesmallestincreaseinpricewhen a. bothsupplyanddemandareinelastic. b. demandiselasticandsupplyisinelastic. c. bothsupply

3、anddemandareelastic. d. demandisinelasticandsupplyiselastic.ANSWER:  cDIFFICULTY:  ChallengingLEARNING OBJECTIVES:  ECON.MANK.090-Evaluatethepriceelasticityofsupply.TOPICS:  ElasticityKEYWORDS:  BLOOM'S:AnalysisCUSTOM ID:  002.05.3-MC-MANK083. Thediscoveryofanewhybridw

4、heatwouldincreasethesupplyofwheat.Asaresult,wheatfarmerswouldrealizeanincreaseintotalrevenueifthe a. supplyofwheatiselastic. b. supplyofwheatisinelastic. c. demandforwheatisinelastic. d. demandforwheatiselastic.ANSWER:  dDIFFICULTY:  ModerateLEARNING OBJECTIVES:  ECON.

5、MANK.090-Evaluatethepriceelasticityofsupply.TOPICS:  ElasticityPriceelasticityofdemandKEYWORDS:  BLOOM'S:ApplicationCUSTOM ID:  003.05.3-MC-MANK084. Becausethedemandforwheattendstobeinelastic,thedevelopmentofanew,moreproductivehybridwheatwouldtendto a. increasethetotal

6、revenueofwheatfarmers. b. decreasethetotalrevenueofwheatfarmers. c. decreasethedemandforwheat. d. decreasethesupplyofwheat.ANSWER:  bDIFFICULTY:  ModerateCopyrightCengageLearning.PoweredbyCognero.Page 17LEARNING OBJECTIVES:  ECON.MANK.272-Givendataonthepriceelasticityo

7、fdemand,identifytheeffectofapricechangeontotalrevenue.TOPICS:  ElasticityPriceelasticityofdemandKEYWORDS:  BLOOM'S:ApplicationCUSTOM ID:  004.05.3-MC-MANK085. Knowingthatthedemandforwheatisinelastic,ifallfarmersvoluntarilydidnotplantwheaton10percentoftheirland,then a. 

8、consumersofwheatwouldbuymorewheat. b. wheatfarmerswouldsufferareductionintheirtotalrevenue. c. wheatfarmerswouldexper

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