Nicolas Di Terlizzi

Description

Quiz Homework Micro
2016: Nicolas Di
Quiz by 2016: Nicolas Di, updated more than 1 year ago
2016: Nicolas Di
Created by 2016: Nicolas Di about 9 years ago
10
0

Resource summary

Question 1

Question
What is the definition of an inferior good?
Answer
  • Good that happens when demand falls an income rises; vice versa.
  • Good that happens when demand increases and income increases as well; vice versa.

Question 2

Question
What type of goods are considered elastic goods?
Answer
  • Normal luxuries and normal necessities
  • Normal luxuries and superior goods

Question 3

Question
What is the formula for XeD?
Answer
  • %change in qty demanded for product x/ %change in price for product y
  • %change in qty demanded/ %change in income

Question 4

Question
What is the formula for PeD?
Answer
  • %change in qty demanded/ %change in price
  • %change in qty demanded/%change in income

Question 5

Question
What shifts PeS?
Answer
  • Stocks, Capital labor, Capacity and Time
  • Stocks, Capacity, Time and Chance
  • Stocks, Interest Rates, Time and Chance

Question 6

Question
What does a complement represent?
Answer
  • When the increase in demand of good A leads to the increase in demand of good B (If the demand for iphones increases, the demand for iphone cases will also increase).
  • When good A substitutes good B (because price of good A increases, the demand for good B will increase).

Question 7

Question
What would be an inelastic good?
Answer
  • Normal necessities
  • Macbook Pro
  • Tickets for a soccer match
  • Short-distance flights

Question 8

Question
What does a rectangular hyperbole represent?
Answer
  • Unit elasticity along the curve
  • Price elasticity in supply
  • Price elasticity in demand

Question 9

Question
What does it mean when you graph a line in a price elasticity graph, that starts in the y- axis?
Answer
  • Inelastic
  • Elastic
  • Unit Elastic
  • Perfectly inelastic

Question 10

Question
What kind of profit is a firm making when their ATC= their AR?
Answer
  • Supernormal
  • Abnormal
Show full summary Hide full summary

Similar

Práctica de Biología para la Prepa 1
Raúl Fox
Quiz de articulaciones y múculos
Paola Mendoza
Práctica de Biología para la Prepa 2
Raúl Fox
Mantenimiento preventivo y predictivo de computadores
David Rojas
¿Cuánto sabes sobre la Población Mundial?
crisferroeldeluna
Quizz MIembro Superior
Alfredo HC
EXAMEN EXTRAORDINARIO QUIMICA II 2016
Juan Gaudencio Gutiérrez Ruiz
AXIS QUIZ
Luis Guzmán
CONCEPTOS BASICOS DE EXCEL
Vivy Rojas Torres