Eco 201 example #10660

A typical indifference curve

The slope of an indifference curve shows

Marginal utility is

If total utility is decreasing, marginal utility:

Which of the following is a characteristic of a product with relatively inelastic demand?

Airlines charge leisure travelers much lower price compared to business travelers because there is a more:

Total revenue increases as the price of a good is raised, if the demand for the good is:

If 100 shirts are sold when unit price is $10, while 150 shirts are sold when the unit price is $8, one can conclude that in this price range:

Cross price elasticity of demand is

A positive income elasticity of demand coefficient indicates that:

Most goods can be classified as normal goods rather than inferior goods. Among all the normal goods,

The price elasticity of demand is a measure of the:

The price-elasticity of demand is always negative because of:

When the price of a product is increased 10 percent, the quantity demanded decreases 12 percent. The price-elasticity of demand coefficient for this product is:

When the price of a product is increased 15 percent, the quantity demanded decreases 20 percent. We can therefore conclude that the demand for this product is:

Which is not characteristic of a product with relatively inelastic demand?

Which of the following factors will make the demand for a product relatively elastic?

You are the only seller of beef in town, and the price-elasticity coefficient for eggs is known to be 1.2. If you want to increase your sales quantity by 12% through a price-change, what should you do to price?

If the price elasticity of demand for orange juice is 0.8, then a reduction in the price of orange juice will cause buyers to buy:

If a 10 percent increase in the price of one good A results in an increase of 5 percent in the quantity demanded of another good B, then it can be concluded that the two goods A and B are:

When price = 10, Qd = 100. If price drops to be 9, quantity demanded will increase to be 110, demand at this range is

For a particular good, when prices decrease by 10 percent, Qd will increase by 10 percent, demand is thus called

For goods with inelastic demand, price should _____ to increase total revenue

The slope of an budget constrain

Marginal Utility

Total utility is

If marginal utility of the first item is 10 and marginal utility of the second item is 8, what is the total utility after two items are consumed:

Which of the following statement is correct

The income elasticity of demand is given as

The cross-price elasticity of demand is given as

Which is characteristic of a product with relatively elastic demand?

The price elasticity of supply is given as

If the price elasticity of demand for orange juice is 0.8, the demand for organge juice is

which of the following is the most important determinants of price elasticity of supply

If the price elasticity of supply is 0.6, then we can say the supply is

If the price elasticity of supply is 0.8, which of the following is correct

Tom and Alice both consumed one apple. Tom's utility is 200, which Alice' utility is 10, we thus can say