Transcription of Chapter 4 - Elasticity - Sample Questions MULTIPLE CHOICE ...
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Chapter 4 - Elasticity - Sample Questions MULTIPLE CHOICE ...
Chapter 4 - Elasticity - Sample QuestionsMULTIPLE CHOICE . Choose the one alternative that best completes the statement or answers the ) The slope of a demand curve depends onA) the units used to measure quantity but not the units used to measure ) the units used to measure price and the units used to measure ) the units used to measure price but not the units used to measure ) neither the units used to measure price nor the units used to measure )2) The price Elasticity of demand depends onA) the units used to measure price but not the units used to measure ) the units used to measure price and the units used to measure ) the units used to measure quantity but not the units used to measure ) neither the units used to measure price nor the units used to measure )3) The price Elasticity of demand measuresA) the slope of a budget ) how often the price of a good ) the responsiveness of the quantity demanded to changes in ) how sensitive the quantity demanded is to changes in )4)
A)zero price elasticity of demand at all prices. B)a price elasticity of demand that is different at all prices. C)unit price elasticity of demand at all prices. D)infinite price elasticity of demand. 34) 35)On a linear demand curve that intersects both axes, A)the elasticity decreases as the price falls and quantity increases.
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