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5 Exakte Antworten 46 Text Antworten 35 Multiple Choice Antworten
Fenster schliessen

In the local market for waterproof jackets, the aggregate demand curve is given by the equation

Qdjacket = 200 – 0.5Pjacket
Qdjacket : quantity of waterproof jackets demanded (per month)
Pjacket : unit price of a waterproof jacket

Draw the inverse demand function (= demand curve) in the diagram below. Clearlyindicate the numerical values of the points where the inverse demand functionintersects with the x- and the y-axis.

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Fenster schliessen

In the local market for waterproof jackets, the aggregate demand curve is given bythe equation
Qdjacket = 200 – 0.5Pjacket
Qdjacket : quantity of waterproof jackets demanded (per month)
Pjacket : unit price of a waterproof jacket

If the unit price is 300, how big is the quantity demanded?

50
Fenster schliessen

In the local market for waterproof jackets, the aggregate demand curve is given bythe equation
Qdjacket = 200 – 0.5Pjacket
Qdjacket : quantity of waterproof jackets demanded (per month)
Pjacket : unit price of a waterproof jacket

Calculate the consumer surplus for a unit price of 300.

(50 × 100) / 2 = 2500
Fenster schliessen

In the local market for waterproof jackets, the aggregate demand curve is given bythe equation
Qdjacket = 200 – 0.5Pjacket
Qdjacket : quantity of waterproof jackets demanded (per month)
Pjacket : unit price of a waterproof jacket

Explicate the term “consumer surplus

Consumer surplus refers to the difference a consumer is willing to pay for a goodand the actual amount he or she actually has to pay when buying it.

Fenster schliessen

For any particular good, an increase in the price of a complement would most likelyresult in?

A movement along the demand curve to the right

A shift in the demand curve to the left

A shift in the demand curve to the right

Fenster schliessen

Statement I: If close substitutes are easily available for a particular good, the priceelasticity of demand for that good cannot be identified.
Statement II: If a relatively large proportion of a person’s income is spent on aparticular good, the price elasticity of demand for that good is most likelyrelatively high.
Which of the following is true?

Both statements are incorrect.

Both statements are correct.

Only one statement II is correct

Fenster schliessen

Statement I: If the price elasticity of demand for a good equals -1.25, an increase inprice will result in a decrease in total revenue.
Statement II: If a decrease in price leads to a decrease in total revenue, demand forthe good is price elastic.

Only Statement I is correct

Only Statement II is correct

Both Statements are incorrect.

Fenster schliessen

When a rent ceiling (maximum price) is imposed below the equilibrium marketprice, which of the following is most likely?

The unit price falls while quantity supplied increases

The unit price rises while quantity demanded falls

The unit price falls and the quantity supplied also falls.