題目：Suppose the demand for gourmet coffee can be represented by a linear demand curve. When income rises cause the demand curve for gourmet coffee shift to the right parallelly: 答案：becomes less elastic at the price that prevailed before the change in income
【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 【答案】 supply curve of good B leftward.
【題目】Q：Suppose the demand and supply functions for a certain goods are givenby: QD=10-P QS=P-4 Find the total economic surplus generated at the market equilibrium 【解答】： 9.0
【題目】 If resources are used efficiently, then _____. consumer surplus equals producer surplus producer surplus is maximized opportunity cost is minimized consumer surplus plus producer surplus is maximized
【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 【答案】 inelastic
【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? The price elasticity of demand for illegal drugs is 1.3. ...
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