題目:Suppose the demand for gourmet coffee can be represented by a linear demand curve. When income rises cause the demand curve for gourmet coffee shift to the right parallelly: 答案:becomes less elastic at the price that prevailed before the change in income
【題目】 Good A and good B are substitutes in production. The demand for good A increases so that the price of good A rises. The increase in the price of good A shifts the 【答案】 supply curve of good B leftward.
【題目】Q:Suppose the demand and supply functions for a certain goods are givenby: QD=10-P QS=P-4 Find the total economic surplus generated at the market equilibrium 【解答】: 9.0
【題目】 If resources are used efficiently, then _____. consumer surplus equals producer surplus producer surplus is maximized opportunity cost is minimized consumer surplus plus producer surplus is maximized
【題目】 The owner of a local hot dog stand has estimated that if he lowers the price of hot dogs from $2.00 to $1.50, he will increase sales from 400 to 500 hot dogs per day. Using the midpoint formula, the demand for hot dogs is 【答案】 inelastic