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Elasticity Of Demand Quiz 11 (13 MCQs)

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1. A 10 percent decrease in the price of a Pepsi decreases the demand for a Coca-Cola by 50 percent. The cross elasticity of demand between a Pepsi and Coca-Cola is:

2. If Price and Total Revenue have a direct relationship

3. Ford Trucks have seen a increase in demand of 27%, while the price has decreased 15%

4. Which of the following is NOT a factor of Demand elasticity?

5. A 10% increase in the price of movie ticket in Westridge 8 leads to a 15% decrease in the number of tickets sold, indicating the demand for movie ticket in Westridge 8 is:

6. Because of the law of demand, PED is always

7. For an inferior good, an increase in consumer income will cause:

8. Assume the income elasticity of demand for good Z equals-5.0. Which of the following is true?

9. What could not cause a shift in an individual's demand curve for good Z?

10. When demand for a product is income inelastic the percentage change in quantity demanded is _____ the percentage change in income

11. The price elasticity of demand for grapes is-2.0. When the price is $ 15, quantity demanded is 5000 units.How much will be demanded when the price falls to $ 12?

12. Columbia Sports Wear has seen a decrease in demand of 57%, while the price has increased 24%

13. A good for which demand increases more quickly than income is a _____

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Elasticity Of Demand Quiz 11 (13 MCQs)

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