Economics

The price elasticity of demand for gasoline in the short run has been estimated

The price elasticity of demand for gasoline in the short run has been estimated to be -0.1. If a war in the Middle East causes the price of oil (from which gasoline is made) to in…

The price elasticity of demand for hardback is 0.5 and the price elasticity of d

The price elasticity of demand for hardback is 0.5 and the price elasticity of demand for paperback is 2. Suppose the publisher increases the price for hardback by 10% and decreas…

The price elasticity of demand for hardback is 0.5 and the price elasticity of d

The price elasticity of demand for hardback is 0.5 and the price elasticity of demand for paperback is 2. Suppose the publisher increases the price for hardback by 10% and decreas…

The price elasticity of demand for industry demand is equal to -1.5 at the curre

The price elasticity of demand for industry demand is equal to -1.5 at the current price. If total industry output is expected to increase by 30 percent as a result of the supply …

The price elasticity of demand is 0.5. If we cut prices by 6 percent, revenue sh

The price elasticity of demand is 0.5. If we cut prices by 6 percent, revenue should fall by 3.2 percent. sales should rise by 2 percent. sales should fall by 2 percent. revenue s…

The price elasticity of demand is ?0.20. Demand is Select one: a. elastic b. uni

The price elasticity of demand is ?0.20. Demand is Select one: a. elastic b. unit elastic c. inelastic d. none of the above When there are external costs, competitive markets will…

The price elasticity of demand is a measure of how much the demand for a product

The price elasticity of demand is a measure of how much the demand for a product is affected by a change in price. Review the following scenario and answer the questions that foll…

The price elasticity of demand measures Select one: a. the extent to which deman

The price elasticity of demand measures Select one: a. the extent to which demand increases as additional buyers enter the market. b. how much more of a good consumers will demand…

The price elasticity of demand refers to the response of quantity demanded to a

The price elasticity of demand refers to the response of quantity demanded to a change in price. Which of the following is false? Demand is said to be price inelastic when small q…

The price elasticity of demand tends to be large? (more elastic) A.if few substi

The price elasticity of demand tends to be large? (more elastic) A.if few substitutes for the product are available. B.when people spend a small share of their income on the produ…

The price elasticity of supply for basmati rice (an aromatic strain of rice) is

The price elasticity of supply for basmati rice (an aromatic strain of rice) is likely to be which of the following? High in both the long run and the short run, because the input…

The price elasticity of supply is 0.6. This means that a $10 increase in price w

The price elasticity of supply is 0.6. This means that a $10 increase in price would increase quantity supplied by 60. a 150 percent increase in price would increase quantity supp…

The price elasticity of supply of .5 is called__________________? A 5% price inc

The price elasticity of supply of .5 is called__________________? A 5% price increase will [increase or decrease) quantity supplied by________________? A supply curve with an infi…

The price index values used to calculate headline and core inflation for 2012 th

The price index values used to calculate headline and core inflation for 2012 through 2016 are found in Table 16P-1. [LO 16.1] a. Calculate the annual inflation rate for each seri…

The price level and the market for bank reserves The following graph shows the m

The price level and the market for bank reserves The following graph shows the market for bank reserves in a hypothetical economy. Suppose the price level increases from 60 to 110…

The price of Tara, Inc., stock will be either $79 or $101 at the end of the year

The price of Tara, Inc., stock will be either $79 or $101 at the end of the year. Call options are available with one year to expiration. T-bills currently yield 4 percent a. Supp…

The price of Video Game rentals is $2 For MUA/$ and $4 for MUB/$, the price of E

The price of Video Game rentals is $2 For MUA/$ and $4 for MUB/$, the price of Energy Drinks is $2, and the Budget = $28. 19) If the price of video game rentals is $4, the utility…

The price of Video Game rentals is $2 For MUA/$ and $4 for MUB/$, the price of E

The price of Video Game rentals is $2 For MUA/$ and $4 for MUB/$, the price of Energy Drinks is $2, and the Budget = $28. 19) If the price of video game rentals is $4, the utility…

The price of Video Game rentals is $2 For MUA/$ and $4 for MUB/$, the price of E

The price of Video Game rentals is $2 For MUA/$ and $4 for MUB/$, the price of Energy Drinks is $2, and the Budget = $28. 19) If the price of video game rentals is $4, the utility…

The price of Video Game rentals is $2 For MUA/$ and $4 for MUB/$, the price of E

The price of Video Game rentals is $2 For MUA/$ and $4 for MUB/$, the price of Energy Drinks is $2, and the Budget = $28. 19) If the price of video game rentals is $4, the utility…

The price of a McDonald\'s dinner is $5; the price of a Burger King dinner is $5

The price of a McDonald's dinner is $5; the price of a Burger King dinner is $5. The marginal utility you would get from the next McDonald's dinner is 15; the marginal utility you…

The price of a bag of groceries in China and USA are as following: A bag of groc

The price of a bag of groceries in China and USA are as following: A bag of groceries in China 18 eggs: Y5 5 pounds apples: ¥25 12 bottles of sparking water: Y 15 2 gallons of mil…

The price of a bag of groceries in China and USA are as following: A bag of groc

The price of a bag of groceries in China and USA are as following: A bag of groceries in China 18 eggs: Y5 5 pounds apples: ¥25 12 bottles of sparking water: Y 15 2 gallons of mil…

The price of a good to be sold by a Monopoly is $0.50. The market has an elastic

The price of a good to be sold by a Monopoly is $0.50. The market has an elasticity of demand (n) of 5. a. What is the mark-up and what is the Marginal cost? b. What would this lo…

The price of a large pizza decreased from $20,.00 to $16.00. As a result, the qu

The price of a large pizza decreased from $20,.00 to $16.00. As a result, the quantity demanded of skateboards incroased from 25000 to 20o v 1st attempt Part 1 (1 point) 0 See Hin…

The price of a large pizza decreased from $23.00 to $19.00. As a result, the qua

The price of a large pizza decreased from $23.00 to $19.00. As a result, the quantity demanded of skateboards increased from 250.00 to 270.00. 1. Using the midpoint formula, what …

The price of a new model of iPod tends to fall significantly a year after it is

The price of a new model of iPod tends to fall significantly a year after it is first introduced. Suppose Jane bought an iPod as soon as it was introduced (a year ago) and paid a …

The price of a video is $3 and the price of a dinner is $9. From this we know th

The price of a video is $3 and the price of a dinner is $9. From this we know that a consumer who is maximizing utility will a. Buy enough of the two goods such that the marginal …

The price of coffee fell sharply last month, while the quantity sold remained th

The price of coffee fell sharply last month, while the quantity sold remained the same. Five people suggest various explanations: Charles: Demand decreased, but it was perfectly i…

The price of coffee in all of its forms (from prepared drinks at Starbucks to wh

The price of coffee in all of its forms (from prepared drinks at Starbucks to whole beans at the grocery store) has suddenly doubled. What will you do? How (if at all) will your c…

The price of coffee rose sharply last month, while the quantity sold remained th

The price of coffee rose sharply last month, while the quantity sold remained the same. Five of the Big Bang Theory friends suggested various explanations. Use the following table…

The price of each soda pop is $2.00 and the price of each pretzel is $5.00. A. F

The price of each soda pop is $2.00 and the price of each pretzel is $5.00. A. Fill in the missing total utility, marginal utility, and marginal utility/price (MU/Price). Place th…

The price of elasticity of demand for scented candles is 1.5 The price elasticit

The price of elasticity of demand for scented candles is 1.5 The price elasticity of demand for tapered candles is 2.0 The cross elasticity of demand for tapered candles with resp…

The price of gasoline has fallen recently which has lowered shipping costs for m

The price of gasoline has fallen recently which has lowered shipping costs for most of the inputs firms use. Determine how this would affect aggregate demand (AD) and/or short-run…

The price of gold is about 5 times greater than it was 10 years ago. Which of th

The price of gold is about 5 times greater than it was 10 years ago. Which of the following explains this increase? O A. This is a price bubble. People buy gold because they belie…

The price of lemons increases. At the same time, we see the price for ice tea ri

The price of lemons increases. At the same time, we see the price for ice tea rise. How does this affect your 8 year old neighbor's market for lemonade at his lemonade stand? Sele…

The price of lottery ticket is$2, the price of a candy bar is $10,and jerry has

The price of lottery ticket is$2, the price of a candy bar is $10,and jerry has $20 a week to spend . Calculate jerrys marginal utility from the second lottery ticket and marginal…

The price of oil is determined by supply and demand. The price of oil has been s

The price of oil is determined by supply and demand. The price of oil has been steadily hovering around the 100$-$120 per barrel mark for many years. Suddenly towards the end of 2…

The price of peanuts increases. At the same time, we see the price of Jelly rise

The price of peanuts increases. At the same time, we see the price of Jelly rise. How does this affect the market for peanut butter? A. the demand curve will shift to the left; th…

The price of popcorn is dollar0.50 per box and the price of peanuts is dollar0.2

The price of popcorn is dollar0.50 per box and the price of peanuts is dollar0.25 per bag, and you have dollar10 to spend. You decide to purchase 20 bags of peanuts. The maximum q…

The price of some stock today is $300. Assume that the stock\'s value in one yea

The price of some stock today is $300. Assume that the stock's value in one year is a random variable X with the following probability distribution: P(x=400)=0.1; P(x=350)=0.4; P(…

The price of the Big Mac in different countries Each year, The Economist publish

The price of the Big Mac in different countries Each year, The Economist publishes data on the price of the Big Mac in different countries and exchange rates. The following table …

The price of tickets for a Rolling Stones concert is $50. At that price, tickets

The price of tickets for a Rolling Stones concert is $50. At that price, tickets sell out almost immediately. After tickets sell out, there are over 20,000 people who still want t…

The price of tin is lower today than fifty years ago, and mining revenues from t

The price of tin is lower today than fifty years ago, and mining revenues from tin are lower, too. The fact that revenues are lower tell us that (think about how to calculate reve…

The price of trade Suppose that Italy and Denmark both produce oil and olives. I

The price of trade Suppose that Italy and Denmark both produce oil and olives. Italy's opportunity cost of producing a crate of olives is 4 barrels of oil while Denmark's opportun…

The price of wheat is very low this year, and the most I can get from the crops

The price of wheat is very low this year, and the most I can get from the crops is $35,000. If I paid you the same amount as I paid the same amount as I paid you last year ($30,00…

The price system helps agents allocate resources to satisfy human wants in the m

The price system helps agents allocate resources to satisfy human wants in the most efficient way possible. Prices incorporate information about each of the following EXCEPT: Each…

The prices of goods x and y are each $1. Jane has $20 to spend and is considerin

The prices of goods x and y are each $1. Jane has $20 to spend and is considering choosing 10 units of x and 10 units of y. Jane has nice convex preferences and more of each good …

The primary advantage of using decision trees over decision tables in risk analy

The primary advantage of using decision trees over decision tables in risk analysis is Decision tables do not incorporate the probabilities of outcomes in calculating economic val…

The primary background of Likert\'s organization development (OD) model is: Sele

The primary background of Likert's organization development (OD) model is: Select one: 1. Productivity and quality of work-life 2. National Training Laboratories (NTL) and T-group…