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ECO 204 WEEK 2 QUIZ | ASHFORD UNIVERSITY

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Exam of 5 pages for the course ECO 204 at Ashford University (ECO 204 WEEK 2 QUIZ)

Institution
Ashford University
Course
ECO 204

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ECO 204 WEEK 2 QUIZ

, Question 1
pts
With a unitary elastic demand curve, a change in price brings about what?
Correct!

the same percent change in quantity demanded

more elasticity in quantity demanded

a slight percent change in quantity demanded

a large percent change in quantity demanded

Question 2
pts
What does elasticity measure in economic terms?

the length of the supply curve

the difference between the supply curve and the demand curve
Correct!

the way one variable responds to changes in other variables

the time it takes a product to reach the target market

Question 3
pts
The more inelastic the demand for a good, the more any excise tax placed on the good will fall
on of that good.
Correct!

consumers

providers

producers

distributors

Question 4
pts
A fundamental notion of economic analysis is that all households and firms must make choices
because of .



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ECO 204
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  • eco 204 week 2 quiz   question 1 1 1 pts with a unitary elastic demand curve
  • a change in price brings about what correct the same percent change in quantity demanded more elasticity in quant
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