elasticity sheet answers.pdf - Sheet Elasticity Dr sameh...

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Dr sameh khalilSheet Elasticity1) A straight-line demand curve with negative slope intersects the horizontal axisat 100 tons per week. At the midpoint on the demand curve (corresponding to 50tons per week) the price elasticity of demand isA) 0.B) 0.5.C) 1.0.D) greater than 1.0.2) Which of the following statements is FALSE?
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3) Along a straight-line demand curve, as the price falls the
4) The price elasticity of demand ____ in value when moving downward along a___ line demand curve.
5) The elasticity of demand along a straight line, negatively sloped, demand curveisA) always equal to 1.0.B) infinite.C) changes continuously moving along the demand curve.D) equal to 0.6) If the demand curve for a good is a downward sloping straight line, the demand
for the good will be more price elastic the higher is the
7) If the demand curve for a good is a downward sloping straight line, then atwhich of the following prices is demand most elastic?8) Demand is inelastic if
Dr sameh khalilSheet ElasticityD) the smaller angle between the vertical axis and the demand curve is less than 45degrees.9) Demand is unit elastic whenA) the slope of the demand curve is –1.B) a shift of the supply curve leads to no change in price.C) a shift of the supply curve leads to an equal shift of the demand curve.D) a change in the price of the product leads to no change in the total revenue.10) Producers’ total revenue will decrease if
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Term
Spring
Professor
NoProfessor
Tags
Supply And Demand, straight line demand curve, point f, Dr sameh khalil

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