【題目】 Suppose the price of a good rises. When will the resulting substitution effect reduce the quantity demanded of the good? Only when the good is inferior. Only when the good is normal. Always. Whenever the good is a non-Giffe ...
【題目】 Crude oil can be refined into home heating oil or gasoline. If very cold weather caused the price of home heating oil to increase, then the supply of gasoline would increase. the equilibrium price of gasoline would rise. the supply of home ...
【題目】 Suppose the price elasticity of demand for tickets of Taiwan High Speed Railway (THSR) is 1.5.Ceteris paribus, when THSR reduces its prices, its revenue will remain the same. will go up. will go down. may go up or down. ...
【題目】 The owner of a local hot dog stand has estimated that if he lowers the price of hot dogs from $2.00 to $1.50, he will increase sales from 400 to 500 hot dogs per day. Using the midpoint formula, the demand for hot dogs is inelastic. perfectly elasti ...
【題目】 The kinked demand curve model was developed to help explain. none of the above. rigidities in prices in oligopolistic industries. fluctuations of prices in pure competition. fluctuations in prices in oligopolistic industrie ...
【題目】 A competitive firm will tend to expand its output so long as: Marginal revenues is greater than marginal cost. Marginal cost is less than average cost. Marginal revenues is greater than the average cost. Marginal revenues i ...