Online Exam 2.docx - Online Exam 2_02 Return to Asse ssment List Part 1 of 1 Question 1 of 20 85.0 100.0 Points 5.0 5.0 Points A good synonym for

Online Exam 2.docx - Online Exam 2_02 Return to Asse ssment...

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Online Exam 2_02 Return to Assessment List Part 1 of 1 - 85.0/ 100.0 Points Question 1 of 20 5.0/ 5.0 Points A good synonym for elasticity would be __________ . A. change B. demand C. responsiveness D. stickiness Question 2 of 20 5.0/ 5.0 Points The quantity of TVs sold is 100 at the unit price $200. Suppose the price elasticity of demand for TVs by the initial value method is 2.0, and you would like to decrease the unit price for TVs to $150. Then the new quantity sold must be __________ . A. 125 B. 150 C. 200 D. 250 Question 3 of 20 5.0/ 5.0 Points A demand curve is defined as the relationship between __________ .
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A. the price of a good and the quantity of that good that consumers are willing to buy B. the price of a good and the quantity of that good that producers are willing to sell C. the income of consumers and the quantity of a good that consumers are willing to buy D. the income of consumers and the quantity of a good that producers are willing to sell Question 4 of 20 0.0/ 5.0 Points At Tony's Restaurant, the quantity of large pizzas sold is 200 at the unit price $15. Suppose the price elasticity of demand for pizzas by the initial value method is 1.5, and you would like to increase the quantity sold to 250. Then the new price must be __________ . A. $13 B. $12.50 C. $11.50 D. $11.25 Question 5 of 20 5.0/ 5.0 Points A change in the quantity demanded of a product is the result of a change in __________ .
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