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Microeconomics quiz

asilva9263 10 preguntas

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Preguntas del test (10)

  1. 1Good X has a PED of 1.2, Good Y has a PED of 0.8. If the XED of good X is 2.3. What is the percent change in price of good X if the demand of good Y changes by 55%?
    1. A158.125%
    2. B68.75%
    3. C131.771%
    4. D55%
  2. 2Which of the following products will experience a price change due to the current drought in Colombia?
    Select all that apply
    1. ACorn
    2. BAirplane tickets
    3. CRoses
    4. DColombian Gold
    5. ECars
    6. FSchool tuition
    7. GNight at a hotel
  3. 3The study of economics wouldn't be as easy if it wasn't for which of the following?
    1. ACeteris Paribus
    2. BGovernment
    3. CFree Trade
    4. DThe 4 scarce resources
  4. 4If total cost is equal to variable cost + fixed cost what would explain that Change in TC is equal to change in VC?
    1. AWith ceteris paribus FC should not be taken into account
    2. BFC is not a measure of money so it is irrelevant
    3. CChange in FC=0
    4. DThe statement in the question is not true
  5. 5Which of the following goods will never have disutility.
    1. AMoney
    2. BRare items
    3. CCollections
    4. DAll of the above
  6. 6Which of the following mathematical equations explain why a PED rectangular hyperbola curve will always be unitary elastic?
    1. Ay=mx+b
    2. Bf'(x)=(dy)/(dx)
    3. Cy'=lnx
    4. Dy=1/x
  7. 7The price of airplane tickets increases by 257%, which of the following goods will be demanded more?
    select all that apply
    1. AHaircuts
    2. BLocal goods over imported goods
    3. CTrain tickets
    4. DCar wheels
    5. EMusic Discs
    6. Fbooks
  8. 8What explains that PES is unitary elastic when its curve touches the origin?
    1. AY=mX so they change proportionally
    2. BIt's in between being inelastic and elastic
    3. Cit doesn't have a y intercept
    4. DThe Free origin law of economics
  9. 9Which of the following are examples of internal economies of scale?
    Check all that apply
    1. AThe government lower taxes
    2. Bthere is a new cinema 2 blocks away from your business
    3. Cthe company buys raw materials by bulk
    4. Dthe company has great communication within itself
    5. Ethe company has a greedy manager
  10. 10The PED curve has a direct relationship with the AD curve
    1. AVerdadero
    2. BFalso

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