Pts question 37 which of the following determines the

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2 / 2 ptsQuestion 37Which of the following determines the sensitivity that changes in the annualincome of consumers have on the quantity demanded for a product?Arc elasticityCross-price elasticityIncome elasticityCorrect!Correct!
Point elasticityPrice elasticity2 / 2 ptsQuestion 38Which category of price elasticity occurs when the coefficient of elasticity hasabsolute values greater than one?
9/16/2018Section 1 Exam: AVSC-2090-X01-X51-Fall 2018-XLIST | Pogue
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2 / 2 ptsQuestion 39Which of the following is the best proxy variable for income?Correct!Correct!
Personal income2 / 2 ptsQuestion 40If the product's income elasticity is greater than zero, then the good iscategorized as which of the following?Correct!Correct!
9/16/2018Section 1 Exam: AVSC-2090-X01-X51-Fall 2018-XLIST | Pogue2 / 2 ptsQuestion 41If someone is willing to supply a certain quantity of goods, regardless ofprice, which of the following is true?The supply is perfectly elasticThe supply is perfectly inelasticCorrect!Correct!
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The supply has unit elasticity2 / 2 ptsQuestion 42How is elasticity of supply calculated?Correct!Correct!
2 / 2 ptsQuestion 43How is cross elasticity of demand calculated?
9/16/2018Section 1 Exam: AVSC-2090-X01-X51-Fall 2018-XLIST | Pogue(Percent change in quantity)/(Percent change in price)Correct!Correct!2 / 2 ptsQuestion 44At the inelastic points on the demand curve, how is total revenue influencedby a decrease in price?Correct!Correct!
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Total revenue will increaseTotal revenue will remain roughly unchanged2 / 2 ptsQuestion 45If you multiply 0.99 times 1.01, you will get 1.TrueFalseCorrect!Correct!
0 / 2 ptsQuestion 46When calculating the cross elasticity of unrelated products, what will theresult be?You AnsweredYou Answered
9/16/2018Section 1 Exam: AVSC-2090-X01-X51-Fall 2018-XLIST | Pogue20/21It dependsZeroorrect Answerorrect Answer2 / 2 pts

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Supply And Demand, Pogue, 2018 XLIST Pogue

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