93. Regarding a straight line demand curve fulfilling the latest a couple axes, the price-flexibility out of request at mid-point of your range is: (a) 0 (b) step one (c) step 1.5 (d) dos Respond to: (b) step 1
(a) Elasticity at point A = ?, at B = > 1, at C = 1, at D = < 1 and E = 0 (b) Elasticity at A = 0, at B = < 1, at C = 1, at D = > 1 and E = ? (c) Elasticity at A = 0, at B > 1, at C = 1, at D = < 1 and at E = 0 (d) None of these Answer: (a) Elasticity at point A = ?, at B = > 1, at C = 1, at D = < 1 and E = 0
96. The price elasticity of demand at the midpoint of the straight line demand curve under point method is ________. (a) 0 (b) 1 (c) > 1 (d) < 1 Answer: (b) 1
97. Part flexibility is useful for and this of your after the points? (a) The brand new bookstore is offered doubling the cost of laptop computers. (b) A restaurant was given decreasing the price of their priciest dinners by 50 per cent. (c) An automobile manufacturer has an interest in deciding this new impulse off people for the price of cars becoming decreased from the ? a hundred. (d) Not one of one’s more than. Answer: (c) A motor vehicle producer is interested during the choosing new response regarding consumers into price of autos are lowered of the ? 100.
98. The expense of an item minimizes out-of ? 6 in order to ? 4 while the quantity de–manded of good develops from 10 equipment to fifteen products, therefore the coefficient out-of speed elasticity. (Use Point Suppleness Strategy) (a) step 1.5 (b) 2.5 (c) – step one.5 (d) 0.5 Address: (c) – step one.5
99. In the event the price of heavens-conditioner develops away from ? 29,000 so you’re able to ? 29,010 and you may resultant change in consult was minimal, i utilize the measure of ________ to measure elasticity. (a) Area elasticity. (b) Primary suppleness. (c) Perfect inelasticity. (d) Speed elasticity. Answer: (a) Part elasticity.
Suppleness anywhere between one or two situations: (a) Section suppleness (b) Arch flexibility (c) Get across elasticity (d) Not one Address: (b) Arch elasticity
101. Suppose the expense of films seen on a theatre increases out of ? 120 for each person to ? 200 for every individual. What is the speed suppleness of demand for movies? (Use Arc Suppleness Method) (a) 5 (b) 8 (c) 1.0 (d) step one.2 Answer: (b) 8
102. Assume an emporium features sales to your the cutlery. If the cost of a plate-form is smaller off ? 300 so you’re able to ? 2 hundred and also the wide variety required expands regarding step three,000 dish-configurations to help you 5,100 dish-options, what’s the rates elasticity from interest in cutlery? (Use Arc Elasticity Method) (a) .8 (b) step one.0 (c) step 1.twenty-five (d) step one.50 Answer: (c) step 1.twenty five
103. If the local pizzeria enhances the price of a method pizza pie from ? sixty so you’re able to ? 100 and amounts necessary drops off 700 pizzas every night in order to 100 pizzas a night, the purchase price elasticity out-of need for pizzas is actually: (Play with Arc Suppleness Strategy) (a) .67 (b) step 1.5 (c) dos.0 (d) 3.0 Respond to: (d) 3.0
The newest the fresh atre movie director notices the escalation in price reasons attendance at certain movie to-fall of 3 hundred persons in order to 2 hundred individuals
104. In the event the regardless of changes in its rate, extent escort service Cleveland OH required of a good stays unchanged, then your consult contour on a would-be: (a) Lateral. (b) Vertical. (c) Seriously sloped. (d) Adversely sloped. Answer: (b) Vertical.