Pts question 37 which of the following determines the

2 / 2 pts
Question 37
Which of the following determines the sensitivity that changes in the annual
income of consumers have on the quantity demanded for a product?
Arc elasticity
Cross-price elasticity
Income elasticity
Correct!
Correct!
Point elasticity
Price elasticity
2 / 2 pts
Question 38
Which category of price elasticity occurs when the coefficient of elasticity has
absolute values greater than one?

9/16/2018 Section 1 Exam: AVSC-2090-X01-X51-Fall 2018-XLIST | Pogue
17/21
2 / 2 pts
Question 39
Which of the following is the best proxy variable for income?
Correct!
Correct!
Personal income
2 / 2 pts
Question 40
If the product's income elasticity is greater than zero, then the good is
categorized as which of the following?
Correct!
Correct!

9/16/2018 Section 1 Exam: AVSC-2090-X01-X51-Fall 2018-XLIST | Pogue
2 / 2 pts
Question 41
If someone is willing to supply a certain quantity of goods, regardless of
price, which of the following is true?
The supply is perfectly elastic
The supply is perfectly inelastic
Correct! Correct!
18/21
The supply has unit elasticity
2 / 2 pts
Question 42
How is elasticity of supply calculated?
Correct! Correct!
2 / 2 pts
Question 43
How is cross elasticity of demand calculated?

9/16/2018 Section 1 Exam: AVSC-2090-X01-X51-Fall 2018-XLIST | Pogue
(Percent change in quantity)/(Percent change in price)
Correct!
Correct!
2 / 2 pts
Question 44
At the inelastic points on the demand curve, how is total revenue influenced
by a decrease in price?
Correct! Correct!
19/21
Total revenue will increase
Total revenue will remain roughly unchanged
2 / 2 pts
Question 45
If you multiply 0.99 times 1.01, you will get 1.
True
False
Correct! Correct!
0 / 2 pts
Question 46
When calculating the cross elasticity of unrelated products, what will the
result be?
You Answered You Answered

9/16/2018 Section 1 Exam: AVSC-2090-X01-X51-Fall 2018-XLIST | Pogue
20/21
It depends
Zero
orrect Answer
orrect Answer
2 / 2 pts