Chapter 4_2: Elasticity

Chapter 4_2: Elasticity; 
Thời gian làm bài: 40 phút

Câu 1: A good with a vertical demand curve has a demand with

Used for question 1 and question 2

a. infinite elasticity.
b. unit elasticity.
c. zero elasticity.
d. varying elasticity.

Câu 2: The demand curve in the figure above illustrates the demand for a product with
a. unit price elasticity of demand at all prices.
b. a price elasticity of demand that is different at all prices.
c. infinite price elasticity of deman
d. zero price elasticity of demand at all prices.

Câu 3: When the price elasticity of demand for a good equals
a. 0, the demand curve is horizontal.
b. 1, the demand curve is vertical.
c. 1, the demand curve is horizontal.
d. 0, the demand curve is vertical.

Câu 4: A straight-line demand curve along which the price elasticity of demand equals 0 is one that
a. forms a 45 degree angle with the vertical axis.
b. is horizontal.
c. is vertical.
d. forms a 60 degree angle with the horizontal axis.

Câu 5: The demand for movies is unit elastic if
a. any increase in the price leads to a 1 percent decrease in the quantity demande
b. a 5 percent decrease in the price leads to an infinite increase in the quantity demande
c. a 5 percent increase in the price leads to a 5 percent decrease in the quantity demande
d. a 5 percent increase in the price leads to a 5 percent increase in total revenue.

Câu 6: Unit elastic demand
a. means that the ratio of a change in the quantity demanded to a change in the price equals 1.
b. will be vertical.
c. means that the ratio of a percentage change in the quantity demanded to a percentage change in the price equals 1.
d. will be horizontal.

Câu 7: A good with a horizontal demand curve has a demand

Used for questions 7

a. with an income elasticity of demand of 0.
b. with a price elasticity of demand of infinity.
c. for which there are no substitute.
d. with a price elasticity of demand of 0.

Câu 8: The demand curve in the figure above illustrates a product whose demand has a price elasticity of demand equal to

Used for question 8 to 9

a. infinity.
b. zero at all prices.
c. a different amount at different prices.
d. one at all prices.

Câu 9: The demand curve in the figure above illustrates the demand for a product with
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 deman

Câu 10: On a linear demand curve that intersects both axes,
a. the elasticity decreases as the price falls and quantity increases.
b. the elasticity is less than 1.00 at all prices.
c. the elasticity equals 1.00 at all prices.
d. the elasticity exceeds 1.00 at all prices.

Câu 11: On a straight-line downward-sloping demand curve, the maximum elasticity of demand occurs
a. where it intersects the supply curve.
b. at its vertical intercept.
c. at its horizontal intercept.
d. at its midpoint.

Câu 12: A straight-line demand curve with negative slope intersects the horizontal axis at 100 tons per week. At the midpoint on the demand curve (corresponding to 50 tons per week) the price elasticity of demand is
a. greater than 1.0.
b. 0.5.
c. 1.0.
d. 0.

Câu 13: The figure above illustrates a linear demand curve. By comparing the price elasticity in the $2 to $4 price range with the elasticity in the $8 to $10 range, you can conclude that the elasticity is

Used for question 12 to 19

a. the same in both price ranges.
b. greater in the $8 to $10 range when the price rises but greater in the $2 to $4 range when the price falls.
c. greater in the $8 to $10 range.
d. greater in the $2 to $4 range.

Câu 14: The figure above illustrates a linear demand curve. If the price falls from $8 to $6,
a. the quantity demanded will increase by less than 20 percent.
b. total revenue will remain unchange
c. total revenue will increase.
d. total revenue will decrease.

Câu 15: The figure above illustrates a linear demand curve. In the range from $8 to $6,
a. the demand is unit elasti
b. the demand is price inelasti
c. the demand is price elasti
d. more information is needed to determine if the demand is price elastic, unit elastic, or inelasti

Câu 16: The figure above illustrates a linear demand curve. If the price falls from $6 to $4,
a. total revenue will decrease.
b. total revenue will increase.
c. quantity demanded will increase by more than 100 percent.
d. total revenue will remain unchange

Câu 17: The figure above illustrates a linear demand curve. In the price range from $8 to $6, demand is ________ and in the price range $4 to $2, demand is ________.
a. elastic; inelastic
b. inelastic; inelastic
c. elastic; elastic
d. inelastic; elastic

Câu 18: The figure above illustrates a linear demand curve. If the price rises from $6 to $8 demand is ________ and if the price falls from $8 to $6 demand is ________.
a. inelastic; inelastic
b. elastic; inelastic
c. elastic; elastic
d. inelastic; elastic

Câu 19: The demand curve in the figure above illustrates the demand for a product with
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 deman

Câu 20: A straight-line demand curve with negative slope intersects the horizontal axis at 200 tons per week. The point on the demand curve at which the price elasticity of demand is 1 corresponds to a quantity demanded
a. that would be negative if a negative quantity demanded were possible.
b. of 100 tons.
c. of 0 tons.
d. of 200 tons.

Câu 21: Demand is inelastic if
a. a leftward shift of the supply curve raises the total revenue.
b. the good in question has close substitutes.
c. the smaller angle between the vertical axis and the demand curve is less than 45 degrees.
d. large shifts of the supply curve lead to only small changes in price.

Câu 22: Demand is unit elastic when
a. a shift of the supply curve leads to no change in price.
b. the slope of the demand curve is -1.
c. a change in the price of the product leads to no change in the total revenue.
d. a shift of the supply curve leads to an equal shift of the demand curve.

Câu 23: Producers' total revenue will decrease if
a. the price rises and demand is inelasti
b. income increases and the good is a normal goo
c. the price rises and demand is elasti
d. income falls and the good is an inferior goo

Câu 24: Producers' total revenue will increase if
a. income falls and the good is a normal goo
b. the price rises and demand is inelasti
c. the price rises and demand is elasti
d. income increases and the good is an inferior goo

Câu 25: If the demand for a good is unit elastic,
a. a 5 percent increase in price results in a 5 percent increase in total revenue.
b. the demand curve is a straight line with slope of -1.
c. a 5 percent increase in price results in a 5 percent decrease in total revenue.
d. a 5 percent increase in price does not change total revenue.


Time Coundown: