Sec_All_Short_Answer_and_Essay_Ch_5_

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1、SubjectiveShortAnswer1. ThemeasureofhowwillingconsumersaretobuylessofagoodasitspricerisesiscalledANSWER:  priceelasticityofdemand.DIFFICULTY:  EasyLEARNING OBJECTIVES:  ECON.MANK.091-Evaluatevariousdemandelasticities.TOPICS:  ElasticityPriceelasticityofdemandKEYWORDS:  BLOOM'S:KnowledgeCUSTOM ID: 

2、 001.05-SAE-MANK082. SupposethatgoodXhasfewclosesubstitutesandthatgoodYhasmanyclosesubstitutes.Whichgoodwouldyouexpecttohavemorepriceelasticdemand?ANSWER:  goodYDIFFICULTY:  ModerateLEARNING OBJECTIVES:  ECON.MANK.081-Determinewhetheragoodismoreelasticthananotheraccordingtothedeterminantsthataffec

3、tthepriceelasticityofdemand.TOPICS:  ElasticityPriceelasticityofdemandKEYWORDS:  BLOOM'S:AnalysisCUSTOM ID:  002.05-SAE-MANK083. SupposethatgoodXhasfewclosesubstitutesandthatgoodYhasmanyclosesubstitutes.Whichgoodwouldyouexpecttohavemorepriceinelasticdemand?ANSWER:  goodXDIFFICULTY:  ModerateLEARNI

4、NG OBJECTIVES:  ECON.MANK.081-Determinewhetheragoodismoreelasticthananotheraccordingtothedeterminantsthataffectthepriceelasticityofdemand.TOPICS:  ElasticityPriceelasticityofdemandKEYWORDS:  BLOOM'S:AnalysisCUSTOM ID:  003.05-SAE-MANK084. SupposethatgoodXisaluxuryandthatgoodYisanecessity.Whichgood

5、wouldyouexpecttohavemorepriceinelasticdemand?ANSWER:  goodYDIFFICULTY:  ModerateLEARNING OBJECTIVES:  ECON.MANK.081-Determinewhetheragoodismoreelasticthananotheraccordingtothedeterminantsthataffectthepriceelasticityofdemand.TOPICS:  ElasticityPriceelasticityofdemandKEYWORDS:  BLOOM'S:AnalysisCUSTO

6、M ID:  004.05-SAE-MANK085. SupposethatgoodXisaluxuryandthatgoodYisanecessity.Whichgoodwouldyouexpecttohavemorepriceelasticdemand?ANSWER:  goodXDIFFICULTY:  ModerateCopyrightCengageLearning.PoweredbyCognero.Page 18LEARNING OBJECTIVES:  ECON.MANK.081-Determinewhetheragoodismoreelasticthananotheracco

7、rdingtothedeterminantsthataffectthepriceelasticityofdemand.TOPICS:  ElasticityPriceelasticityofdemandKEYWORDS:  BLOOM'S:AnalysisCUSTOM ID:  005.05-SAE-MANK086. Forwhichofthefollowinggoodswoulddemandbemostpriceela