microchp6 - POP QUIZ WORKSHEET 2 : CHAPTER 6 NAME:_ COURSE:...

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POP QUIZ WORKSHEET 2 : CHAPTER 6 NAME:__________________________________ COURSE: ________________________________ 1. Inelastic demand means: a. the percentage change in price exceeds the percentage change in quantity purchased. b. this good would be a poor choice for taxation. c. the change in price divided by the change in quantity is less than one. d. the good is a necessity. 2. Prices for artificial flowers have fallen by 10 percent and the quantity the public demands has risen by 10 percent. This is an example of __________ demand. a. elastic b. inelastic c. unitary elastic d. inverse 3. Which of the following will cause total revenue earned by swimsuit producers to rise? a. The demand is price elastic, and the price rises. b. The price falls, and demand is inelastic. c. Demand is reduced because consumers learn of new hazards of exposure to sunlight. d. The population along both the East and West Coasts increases dramatically. 4.
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microchp6 - POP QUIZ WORKSHEET 2 : CHAPTER 6 NAME:_ COURSE:...

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