【題目】 The fallacy of composition is evident in which of the following statements? When the NFC team wins the Superbowl, the stock market rises. If each farmer works harder all farmers will be richer. Technological progress helps everybody.   ...
【題目】 Suppose the price of a good rises. When will the resulting substitution effect reduce the quantity demanded of the good? Whenever the good is a non-Giffen good. Only when the good is inferior. Only when the good is normal. A ...
題目:Under which of the following conditions would the interdiction of illegal drugs result in a decrease in the quantity of drugs sold and in a decrease in total spending on illegal drugs by drug users? 答案::The price elasticity of demand for illegal drugs is 1.3
【題目】 Consumer surplus is: the price one is willing to pay divided by its actual price negative for an inferior good the difference between the price one is willing to pay and the price one has to pay the difference between the s ...
【題目】 Which of the following factors would not cause the demand curve for a given product to shift? Changes in the distribution of income. Changes in income. Changes in price. Changes in the price of a related good.
【題目】 If the price of the Walkman is below the equilibrium price, there will be a _______ of Walkmans and the price will _______. shortage; rise shortage; fall surplus; fall surplus; rise
【題目】 In long-run equilibrium of a competitive market, the number of firms in the markets adjusts so that all of the market demand is satisfied at a price equal to sunk cost maximum marginal cost minimum average variable cost mini ...
【題目】 The demand for a product tends to be inelastic if. a small proportion of consumer's income is spent on the good. consumers are quick to respond to price changes. it is a normal good. it is expensive.