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中国大学MOOC微观经济学

501Jeans in general have fewer close substitutes than a specific brand of jeans Therefore, the demand for jeans in general will be __ than the demand for a specific brand of jeans
502Satellite TV is a close substitute for cable TV In the 1990’s, small satellite TV units were developed that made it less costly for individual consumers to subscribe to satellite TV service This caused the price elasticity of demand for cable TV service
503Suppose that the demand for electricity has been found to be price inelastic The most likely explanation for this finding is that:
504Suppose that there is only one small clothing store in the remote village of Green Acres, and until recently the townspeople bought their shirts there As more people in Green Acres become connected to the Internet, the price elasticity of demand for shir
505All else equal, the price elasticity of demand for small-budget items such as soap tends to be __ than the price elasticity of demand for big-ticket items such as flat-screen TVs
506All else equal, compared to small-budget items such as paper towels, the price elasticity of demand for big-ticket items such as refrigerators is __
507You would expect the price elasticity of demand for transportation generally to be:
508Demand tends to be __ in the short run than in the long run
509Suppose you have one hour to catch a flight to Miami for spring break, and it takes 45 minutes to drive to the airport Your car is almost out of gas and the price of gas at the closest gas station is higher than at other gas stations that are much farthe
510The reason a brand name item (eg, Tyson chicken) has a larger price elasticity than a class of items (eg, chicken) is that:
511Suppose that the short-run price elasticity of demand for electricity is 003, and the long-run price elasticity of demand is 12 One would classify the short-run elasticity as being _ and the long-run elasticity as being _
512Economists have found that the price elasticity of demand for water is higher in the summer than in the winter Why is this likely to be so?
513If the elasticity of demand for the latest American Idol album is 14, this means
514Suppose you learn that in 1900, households spent about 40 percent of their budget on food, and today, they spend about 10 percent of their budget of food All else equal, this suggests that the price elasticity of demand for food:
515If the quantity demanded of a good is Q when the price for the good is P, the price elasticity of demand for that good at that point is:
516If the absolute value of slope of the demand curve is 25, price is $6 per unit, and the quantity demanded is 8 units, then the price elasticity of demand is:
517If the absolute value of the slope of the demand curve is 025, price is $8 per unit, and quantity demanded is 12 units, then demand for this good is:
518The following graph depicts demand The slope of the demand curve (ignoring the negative sign) is:
519The following graph depicts demand The price elasticity of demand at point A is:
520The following graph depicts demand At point A, demand is:
521The following graph depicts demand The price elasticity of demand at point B is:
522The following graph depicts demand The price elasticity of demand at point C is:
523The following graph depicts demand The price elasticity of demand at point D is:
524The following graph depicts demand At point D, demand is:
525Suppose two demand curves intersect and so have a point in common At that point, demand shown by the steeper curve will be __ the flatter curve
526Refer to the figure below What is the price elasticity of demand when the price of rice is $3 per pound?
527Refer to the figure below What is the price elasticity of demand when the price of rice is $6 per pound?
528Refer to the figure below The absolute value of the slope of the demand curve D1 is _, and the absolute value of the slope of demand curve D2 is _
529Refer to the figure below For demand curve D1, what is the price elasticity of demand when P = 12?
530Refer to the figure below When the price is equal to 8, the price elasticity of demand for the demand curve D1 is _ and for D2 the price elasticity of demand is _
531Refer to the figure below At P = 8 and Q = 4, D1 is _ elastic than D2, which is shown graphically as D1 being _ D2
532Refer to the figure below When P = 4, the price elasticity of demand for the demand curve D1 is _ and D2 is _
533Refer to the figure below At P = 4, how does the price elasticity of demand for D1 compare to that for D2?
534As one moves down along a linear demand curve (ie, from high price, low quantity pairs to low price, high quantity pairs), demand:
535On a given linear demand curve, as price increases demand becomes __
536At the midpoint of a straight-line demand curve, the price elasticity of demand is:
537Suppose the price P on a given demand curve results in a price elasticity of demand equal to 1 Any price higher than P will lie on the _ part of the demand curve, and any price lower than P will lie on the _ part of the demand curve
538The price elasticity of demand equals 1:
539If consumers completely cease purchasing a product when its price increases by any amount, then demand is:
540If the demand curve is horizontal, then demand is:
541If a demand curve is horizontal at P = $5, then the price elasticity of demand is:
542For any horizontal demand curve, the price elasticity of demand is:
543If the percentage change in quantity demanded is zero for any percentage change in the price of the good, demand is classified as:
544If the slope of a demand curve is infinite, then the price elasticity of demand is:
545A demand curve that is drawn as a vertical line has a price elasticity of demand equal to:
546If the demand curve for open-heart surgery is vertical for people with serious heart conditions, then the demand for open-heart surgery is __ with respect to price
547If the demand curve for a good is a vertical line at Q = 1, then a decrease in the price of that good will:
548A perfectly elastic demand curve has a slope of _ while a perfectly inelastic demand curve has a slope of _
549When the price of insulin is $10, consumers demand 100 units; when the price is $15, consumers demand 100 units; and when the price is $20, consumers demand 100 units Based on this information, the demand for insulin is:
550Refer to the figure below Let εX denote the price elasticity of demand at point X Which of the following describes the relationship between εA, εB and εC?
551Refer to the figure below At a price of $2, the total expenditure on lattes each hour equals:
552Refer to the figure below If the price of a latte increases from $200 to $250:
553Refer to the figure below Suppose this demand curve shows the demand for lattes at a single coffee shop that charges $200 for a latte If the manager wants to increase total revenue, what should the manager do?
554If demand is _ with respect to price, a price increase will _ total revenue
555To increase total revenue, firms with _ demand should lower price, and firms with _ demand should increase price
556A firm that produces a good with many substitutes will most likely find that:
557Which of the following determines whether a firm will earn higher revenues when it raises its price?
558If the San Diego Opera decreases the price of their opera tickets and their total revenue falls, then this suggests that, at the original price, the demand for tickets to the San Diego Opera was:
559Pepsi One is a close substitute for Diet Coke When Pepsi introduced Pepsi One, the price elasticity of demand for Diet Coke _ and Coke’s ability to raise revenues through price increases _
560When Taylor raised the price of earrings at Taylor’s Boutique, her total revenue from selling earrings increased This suggests that:
561The owner of a pizza shop observes that when she raises the price of a large pizza, her total revenue decreases, and when she lowers the price of a large pizza, her total revenue increases This suggests that:
562When Joe’s Gas raises its price for regular unleaded gasoline, total revenue from regular unleaded gas falls to zero It must be the case that
563If the demand for electricity is inelastic, then if the local utility wants to increase its total revenue, it should __ its price
564Growing rice requires extensive irrigation in California Economists consider water to be a (n) for rice farmers in California
565According to economists, the satisfaction people get from their consumption activities is called:
566The goal of utility maximization is to allocate your _ in order to maximize your _
567During Thanksgiving you participated in a pumpkin-pie eating contest You really enjoyed the first two pies, the third one was okay, but as soon as you ate the fourth one you became ill and lost the contest Your total utility __ with the first three pies
568During Thanksgiving you participated in a pumpkin-pie eating contest You really enjoyed the first two pies, the third one was okay, but as soon as you ate the fourth one you became ill and lost the contest After the third pie, your total utility
569During Thanksgiving you participated in a pumpkin-pie eating contest You really enjoyed the first two pies, the third one was okay, but as soon as you ate the fourth one you became ill and lost the contest You got __ utility from eating the first pie th
570During Thanksgiving you participated in a pumpkin-pie eating contest You really enjoyed the first two pies, the third one was okay, but as soon as you ate the fourth one you became ill and lost the contest You got __ utility from eating the fourth pie t
571The additional utility gained from consuming an additional unit of a good is called:
572Pat’s total utility after eating 99 Reese’s Peanut Butter Cups was greater than his total utility after eating 100 Reese’s Peanut Butter Cups Therefore, Pat’s marginal utility from the 100th peanut butter cup was:
573The term marginal utility denotes the amount by which _ changes when consumption changes by _ unit(s)
574As Lynn eats more pizza, we would typically expect her marginal utility from eating pizza to:
575Laura’s total utility from consuming 8, 9, and 10 bonbons is 35, 42, and 45, respectively Her marginal utility from the 9th bonbon is
576Suppose Chris’s marginal utility from the first taco he eats is 15, and his marginal utility from the second taco he eats is 12 One can infer that:
577If marginal utility is positive, then as consumption increases:
578Refer to the figure below The total utility of consuming 4 pizzas a week is:
579Refer to the figure below The marginal utility of the 6th pizza is:
580Refer to the figure below The total utility of consuming two pizzas a week is:
581Refer to the figure below The marginal utility of the 7th pizza is
582Refer to the figure below Total utility increases with each additional pizza up to the _ and then declines, but marginal utility _ with each additional pizza consumed
583Donald has vast riches and consumes thousands of dollars’ worth of consumer goods each week, yet he is never satisfied Why not?
584It is impossible for total utility to be _ when marginal utility is _
585For Michael, the first cup of coffee he drinks every morning is heavenly The second one is pretty good, but not as good as the first, and if he drinks a third cup he feels jittery and sick For Michael, the marginal utility from drinking a cup of coffee
586Refer to the figure below The total utility of consuming two dinners out per week is:
587Refer to the figure below The marginal utility of the 3rd dinner is
588Refer to the figure below The marginal utility of the 4th dinner out per week is
589Refer to the figure below The marginal utility of consuming the 2nd apple is:
590Refer to the figure below The marginal utility of apples is:
591Refer to the figure below The marginal utility of the 5th apple is:
592Refer to the figure below Total utility _ as additional apples are consumed, but marginal utility _ with each additional apple consumed
593If Terry’s total utility is maximized when he owns 10 pairs of shoes, then Terry’s total utility from owning 7 pairs of shoes is __ Terry’s total utility from owning 8 pairs
594The tendency for marginal utility to decline as consumption increases beyond some point is called:
595If the marginal utility of the 3rd cup of coffee is 23 and the marginal utility of the 4th cup is 15, then:
596According to the law of diminishing marginal utility:
597Cory gets 18, 23, and 25 units worth of total utility from consuming 10, 11, and 12 raw oysters, respectively, and the price per oyster is 25 cents Thus, one can infer that Cory:
598Refer to the figure below As Jeff watches more movies, his marginal utility:
599Refer to the figure below When Jeff goes from watching 3 to 4 movies a day, his total utility:
600Refer to the figure below For Jeff, the consumption of movies reflects the law of:
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