AMU ECON 201 Week 3 Quiz
Question 1 points
Demand is price inelastic if:
(O the price of the good responds slightly to a quantity change.
() the demand curve shifts very little when a demand shifter changes.
the percentage change in quantity demanded is relatively small in response to a relatively large
@ percentage change in price.
() all of the above are true.
Question 2 points
If the absolute value of price elasticity is greater than 1, this means the demand curve in that region is:
(® price elastic.
() price inelastic.
() unit price elastic.
() upward sloping.
Question 3 points
Which of the following will lead to a decrease in total revenue?
() price goes up and demand is perfectly inelastic
() price goes up and demand is price inelastic
() price declines and demand is price elastic
(®) price increases and demand is price elastic
Question 4 points
If total revenue goes up when price falls, the price elasticity of demand is said to be:
() price inelastic.
() unit price elastic.
@ price elastic.
() positive.
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Question 1 points
Demand is price inelastic if:
(O the price of the good responds slightly to a quantity change.
() the demand curve shifts very little when a demand shifter changes.
the percentage change in quantity demanded is relatively small in response to a relatively large
@ percentage change in price.
() all of the above are true.
Question 2 points
If the absolute value of price elasticity is greater than 1, this means the demand curve in that region is:
(® price elastic.
() price inelastic.
() unit price elastic.
() upward sloping.
Question 3 points
Which of the following will lead to a decrease in total revenue?
() price goes up and demand is perfectly inelastic
() price goes up and demand is price inelastic
() price declines and demand is price elastic
(®) price increases and demand is price elastic
Question 4 points
If total revenue goes up when price falls, the price elasticity of demand is said to be:
() price inelastic.
() unit price elastic.
@ price elastic.
() positive.
, “anse avud un
O0O0®
“onseja aud
“onsejaur 92ud
‘ajqe3sun
:s13onpoud s,uLy 3y} Jo puewap
U3 e sagea1pul SIy} “0ud S}1 SASIEL 31 UBYM UELD JOU S0P WL € AQ PAAISIB ANUAASI (10} B §]
sui0d 0T / 0T g uonsand
‘g ueyy sojeass O
g ueyy ss3)3nq T vewy Jajeas8 O
‘Tojenbe ®
T ueyy s3] Inq 010z veyy Jareais O
51 puewap o Aynse}d 221ud ay3 JO anjeA SINJosqe 3y 20UaH a1 Jad £§ Sem adud ALy uayM Aep Jad saiy
awes 3y 4o 0g PIOS Inq 313 Jad G¢ sem ao1d B UBYM Aep 1ad 51} OF O ABEIAAE UE PJOS BI0IS 31 SUBW Y/
sjutod 0T / 0T £ uonsanp
-anpesau skeme @
T 03 fenba Ajiensn O
T ueyy sayeass skempe O
‘anmsod skempe O
1 puewsap o Ajpnsee 2ud ay
sui0d 0T / 0T 9 uogsanty
“papuewap Ayauenb uj aSuey e 03 annd puewap ayy o adojs O
“a0ud ur a8ueyd e 03 amNd puewap ayy Jo adojs O
‘papuewap Ayuenb uy ssueyd e 0y adud O
“22ud uy a8ueyd e 03 papuewsp Aguenb ©
wu1 aBueyp 313 J0 SsBUBNISUOASAI AU} SBINSEAW PUBWAP JO AIRSE[S 31id
sjui0d 0T / 0T 5 uonsand
