You are an economist for the Taipei City Subway Commission. Presently, the price of a subway ride is $80, and 250,000 seats are filled weekly. The income elasticity of demand is -0.60. If a recession lowered area incomes by 5％, how many additional seats per week would the subway need? 答案 ...
【題目】 Good A and good B are substitutes in production. The demand for good A increases so that the price of good A rises. The increase in the price of good A shifts the supply curve of good B leftward. supply curve of good B rightward. demand ...
【題目】 For a good that is a necessity, demand tends to be inelastic. the law of demand often does not apply. its price elasticity equals one. quantity demanded tends to respond substantially to a change in price. 答案 : demand tend ...
【題目】 Levi’s jeans sell for $100 a pair. Suppose at the profit maximizing quantity, Levi’s average total cost was $110 and Average variable cost was $55, which statement is true? Levi’s will produce in the short and long run Levi’s will produce in the ...
【題目】 The kinked demand curve model assumes that a firm's rivals will follow the firm's price decreases but not its price increases. follow the firm's price increases but not its price decreases. follow any price change the firm makes. ...
【題目】 For a good that is a necessity, quantity demanded tends to respond substantially to a change in price. the law of demand often does not apply. its price elasticity equals one. demand tends to be inelastic.
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