【題目】Q： 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 【答案】： will go up.
【題目】：The figure shows the market for books before and after a sales tax is introduced. The tax on books is ____ a book, buyers pay ____ of tax per book, and the governments tax revenue is ____. 答案：$1.20; $0.80; $12
題目：Nick can purchase each milkshake for $2. For the first milkshake purchased Nick is willing to pay $4, for the second milkshake $3, for the third milkshake $2 and for the fourth milkshake $1. What is the value of Nick's consumer surplus. 答案：3
【題目】 What would happen to the equilibrium price and quantity of coffee if the wages of coffee-bean pickers fell and the price of tea fell? Price will fall and the effect on quantity is ambiguous. Price will rise and the effect on quantity is ambiguous. ...
【題目】 ：If the market price is higher than the equilibrium price. 【 答案 】： a surplus exists and the market price will fall until it equals the equilibrium price and the surplus is eliminated.
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