发布时间 : 星期一 文章经济学原理对应练习 05更新完毕开始阅读
Chapter 5/Elasticity and Its Applications ? 177
53. Refer to Figure 5-1. Assume the section of the demand curve labeled A corresponds to prices between $8 and $16.
Then, when the price changes between $9 and $10,
a. quantity demanded changes proportionately less than the price. b. quantity demanded changes proportionately more than the price.
c. quantity demanded changes the same amount proportionately as price. d. the price elasticity of demand is less than 1. ANS: B PTS: 1 DIF: 2 REF: 5-1 TOP: Elastic demand MSC: Applicative 54. Refer to Figure 5-1. Assume the section of the demand curve labeled C corresponds to prices between $0 and $15.
Then, when the price changes between $7 and $9,
a. quantity demanded changes proportionately less than the price. b. quantity demanded changes proportionately more than the price.
c. quantity demanded changes the same amount proportionately as price. d. the price elasticity of demand is greater than 1. ANS: A PTS: 1 DIF: 2 REF: 5-1 TOP: Inelastic demand MSC: Applicative 55. Refer to Figure 5-1. Assume the section of the demand curve labeled A corresponds to prices between $6 and $12.
Then, when the price increases from $8 to $10,
a. the percent decrease in the quantity demanded exceeds the percent increase in the price. b. the percent increase in the price exceeds the percent decrease in the quantity demanded. c. sellers’ total revenue increases as a result.
d. it is possible that the quantity demanded fell from 550 to 500 as a result. ANS: A PTS: 1 DIF: 3 REF: 5-1 TOP: Elastic demand MSC: Applicative 56. Refer to Figure 5-1. Assume, for the good in question, two specific points on the demand curve are (Q = 1,000, P =
$40) and (Q = 1,500, P = $30). Then which of the following scenarios is possible? a. Both of these points lie on section C of the demand curve.
b. The vertical intercept of the demand curve is the point (Q = 0, P = $60).
c. The horizontal intercept of the demand curve is the point (Q = 1,800, P = $0). d. Any of these scenarios is possible. ANS: B PTS: 1 DIF: 3 REF: 5-1 TOP: Elastic demand MSC: Analytical 57. Refer to Figure 5-1. Assume, for the good in question, two specific points on the demand curve are (Q = 2,000, P =
$15) and (Q = 2,400, P = $12). Then which of the following scenarios is possible? a. Both of these points lie on section C of the demand curve.
b. The vertical intercept of the demand curve is the point (Q = 0, P = $22).
c. The horizontal intercept of the demand curve is the point (Q = 5,000, P = $0). d. Any of these scenarios is possible. ANS: A PTS: 1 DIF: 3 REF: 5-1 TOP: Inelastic demand MSC: Analytical
178 ? Chapter 5/Elasticity and Its Applications
Figure 5-2 58. Refer to Figure 5-2. The price elasticity of demand between point A and point B, using the midpoint method, is
a. 1. b. 1.5. c. 2. d. 2.5. ANS: D PTS: 1 DIF: 2 REF: 5-1 TOP: Price elasticity of demand MSC: Applicative
59. Refer to Figure 5-2. The elasticity of demand between point B and point C, using the midpoint method, is
a. 0.5. b. 0.75. c. 1.0. d. 1.3. ANS: B PTS: 1 DIF: 2 REF: 5-1 TOP: Price elasticity of demand MSC: Applicative
60. Refer to Figure 5-2. If the price decreased from $18 to $6,
a. total revenue would increase by $1,200 and demand is elastic between points A and C. b. total revenue would increase by $800 and demand is elastic between points A and C. c. total revenue would decrease by $1,200 and demand is inelastic between points A and C. d. total revenue would decrease by $800 and demand is inelastic between points A and C. ANS: A PTS: 1 DIF: 2 REF: 5-1 TOP: Price elasticity of demand | Total revenue MSC: Applicative 61. Refer to Figure 5-2. Sellers’ total revenue would increase if the price
a. increased from $4 to $6. b. increased from $16 to $18. c. decreased from $8 to $6. d. All of the above are correct. ANS: A PTS: 1 DIF: 2 REF: 5-1 TOP: Total revenue MSC: Applicative 62. Refer to Figure 5-2. Sellers’ total revenue would increase if the price
a. increased from $6 to $8. b. decreased from $18 to $16. c. decreased from $16 to $15. d. All of the above are correct. ANS: D PTS: 1 DIF: 2 REF: 5-1 TOP: Total revenue MSC: Applicative
Chapter 5/Elasticity and Its Applications ? 179
63. Refer to Figure 5-2. Which of the following price changes would result in no change in sellers’ total revenue?
a. The price increases from $6 to $9. b. The price increases from $9 to $15. c. The price decreases from $12 to $9. d. The price decreases from $9 to $5. ANS: C PTS: 1 DIF: 3 REF: 5-1 TOP: Total revenue MSC: Applicative 64. When the price of kittens was $25 each, the pet shop sold 20 per month. When they raised the price to $35 each, they
sold 14 per month. The price elasticity of demand for kittens is about a. 1.66. b. 1.06. c. 0.94. d. 0.60. ANS: B PTS: 1 DIF: 2 REF: 5-1 TOP: Price elasticity of demand MSC: Applicative
65. When the local used bookstore prices economics books at $15.00 each, they generally sell 70 books per month. If
they lower the price to $7.00, sales increase to 90 books per month. Given this information, we know that the price elasticity of demand for economics books is about
a. 2.91, and an increase in price from $7.00 to $15.00 results in an increase in total revenue. b. 2.91, and an increase in price from $7.00 to $15.00 results in a decrease in total revenue. c. 0.34, and an increase in price from $7.00 to $15.00 results in an increase in total revenue. d. 0.34, and an increase in price from $7.00 to $15.00 results in a decrease in total revenue. ANS: C PTS: 1 DIF: 2 REF: 5-1 TOP: Price elasticity of demand | Total revenue MSC: Applicative 66. Demand is said to be inelastic if the
a. quantity demanded changes proportionately more than price. b. price changes proportionately more than income.
c. quantity demanded changes proportionately less than price. d. quantity demanded changes proportionately the same as price. ANS: C PTS: 1 DIF: 2 REF: 5-1 TOP: Inelastic demand MSC: Definitional 67. Demand is said to be unit elastic if
a. quantity demanded changes by the same percent as the price. b. quantity demanded changes by a larger percent than the price.
c. the demand curve shifts by the same percentage amount as the price. d. quantity demanded does not respond to a change in price. ANS: A PTS: 1 DIF: 2 REF: 5-1 TOP: Price elasticity of demand MSC: Definitional
68. Elasticity of demand is closely related to the slope of the demand curve. The more responsive buyers are to a change
in price, the
a. steeper the demand curve will be. b. flatter the demand curve will be.
c. further to the right the demand curve will sit.
d. closer to the vertical axis the demand curve will sit. ANS: B PTS: 1 DIF: 2 REF: 5-1 TOP: Price elasticity of demand MSC: Interpretive
69. The flatter the demand curve through a given point, the
a. greater the price elasticity of demand at that point. b. smaller the price elasticity of demand at that point.
c. closer the price elasticity of demand will be to the slope of the curve.
d. greater the absolute value of the change in total revenue when there is a movement from that point upward and to
the left along the demand curve.
ANS: A PTS: 1 DIF: 3 REF: 5-1 TOP: Price elasticity of demand MSC: Analytical
180 ? Chapter 5/Elasticity and Its Applications
70. A perfectly elastic demand implies that
a. buyers will not respond to any change in price.
b. any rise in price above that represented by the demand curve will result in a quantity demanded of zero. c. quantity demanded and price change by the same percent as we move along the demand curve. d. price will rise by an infinite amount when there is a change in quantity demanded. ANS: B PTS: 1 DIF: 2 REF: 5-1 TOP: Perfectly elastic demand MSC: Interpretive 71. The case of perfectly elastic demand is illustrated by a demand curve that is
a. vertical. b. horizontal.
c. downward-sloping but relatively steep. d. downward-sloping but relatively flat. ANS: B PTS: 1 DIF: 1 REF: 5-1 TOP: Perfectly elastic demand MSC: Interpretive
72. The smaller the price elasticity of demand, the
a. steeper the demand curve will be through a given point. b. flatter the demand curve will be through a given point.
c. more strongly buyers respond to a change in price between any two prices P1 and P2.
d. larger the decrease in equilibrium price when the supply curve shifts rightward from S1 to S2. ANS: A PTS: 1 DIF: 3 REF: 5-1 TOP: Price elasticity of demand MSC: Analytical
73. In the case of perfectly inelastic demand,
a. the change in quantity demanded equals the change in price.
b. the percentage change in quantity demanded equals the percentage change in price.
c. infinitely-large changes in quantity demanded result from very small changes in the price. d. quantity demanded stays the same whenever price changes. ANS: D PTS: 1 DIF: 2 REF: 5-1 TOP: Perfectly inelastic demand MSC: Interpretive
74. When demand is perfectly inelastic, the demand curve will be
a. negatively sloped, because buyers decrease their purchases when the price rises.
b. vertical, because buyers purchase the same amount as before whenever the price rises or falls.
c. positively sloped, because buyers respond by increasing the market quantity demanded of the good when price
rises.
d. positively sloped, because buyers respond by increasing their total expenditure on the good when price rises. ANS: B PTS: 1 DIF: 2 REF: 5-1 TOP: Perfectly inelastic demand MSC: Interpretive
75. When small changes in price lead to infinite changes in quantity demanded, demand is perfectly
a. elastic and the demand curve will be horizontal. b. inelastic and the demand curve will be horizontal. c. elastic and the demand curve will be vertical. d. inelastic and the demand curve will be vertical. ANS: A PTS: 1 DIF: 2 REF: 5-1 TOP: Perfectly elastic demand MSC: Interpretive 76. When quantity moves proportionately the same amount as price, demand is
a. elastic and the price elasticity of demand is 1.
b. perfectly elastic and the price elasticity of demand is infinitely large. c. perfectly inelastic and the price elasticity of demand is 0. d. unit elastic and the price elasticity of demand is 1. ANS: D PTS: 1 DIF: 2 REF: 5-1 TOP: Price elasticity of demand MSC: Interpretive