1、The inverse demand curve P (x) for a good x measures the price per unit at which the quantity x would be demanded.
A、对
B、错
2、If a price changes, then changes in consumption at the intensive margin are changes that happen because consumers alter the amounts that they consume, but do not either stop consuming or start consuming the good.
A、对
B、错
3、If the demand function is q = 3m=p; where m is income and p is price, then the absolute value of the price elasticity of demand decreases as price increases.
A、对
B、错
4、A peck is 1/4 of a bushel. If the price elasticity of demand for bran is -0.2 when bran is measured in bushels, then when bran is measured in pecks, the price elasticity of demand for bran will be:
A、-0.05
B、-0.8
C、-0.1
D、None of the above.
5、The demand function is described by the equation q(p) = 190- p/5. The inverse demand function is described by:
A、q(p) = 190 -5p.
B、p(q) = 950 -5q.
C、q(p)=1/(190 -p/5).
D、p(q)=1/190 -q/5.
6、Marginal revenue is equal to price if the demand curve is horizontal.
A、对
B、错
7、The constant elasticity of demand for cigarettes has been estimated to be 0.5. To reduce smoking by 75%, approximately how much tax needs to be added to a $1 pack?
A、$0.38
B、$0.75
C、$1.5
D、$2.25
8、If the marginal cost of brewing beer is 40 cents and the profit maximizing price is 80 cents,then the price elasticity of demand is
A、-0.66
B、-1.8
C、-2
D、-2.33
9、A peck is 1/4 of a bushel. If the price elasticity of demand for bran is -0.2 when bran is measured in bushels, then when bran is measured in pecks, the price elasticity of demand for bran will be:
A、-0.05
B、-0.8
C、-0.1
D、None of the above.
