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Which situation is continual with the law of diminishing marginal benefit?
A) Joe"s marginal benefit from eating pizza becomes confident after eating three slices.
B) The more pizza Joe eats, the less he enjoys each added slice.
C) The more pizza Joe eats, the much more he enjoys each added slice.
D) Joe"s marginal benefit from eating pizza get a maximum when total benefit is zero.
You are watching: Mia wants to buy a book. the economic perspective suggests that mia will buy the book if the
television terminal reports the the price that coffee has increased but the quantity traded in themarket has actually decreased. This instance would be resulted in by a(n)
A) decrease in demand.
B) to decrease in supply.
C) boost in supply.
D) rise in demand.
Mia desires to to buy a book. The financial perspective says that Mia will certainly buy the publication if the
A) marginal advantage of the publication is better than its marginal cost.
B) marginal benefit of the book is a confident value.
C) marginal price of the publication is better than the marginal benefit.
D) marginal price of the publication is affordable because that her.
Micro exam 1 ar 001_v1.tstOther things being equal, the law of demand argues that as
A) revenue increases, the quantity of iPads demanded will increase.
B) the price that iPads decreases, the amount demanded will certainly decrease.
C) the price the iPads decreases, the amount demanded will increase.
D) the need for iPads increases, this will cause the price to increase.
The industry for grapes is given by the complying with demand and supply equations:P = 24 - 2QP = 8 + 2QThe market equilibrium price (P*) and also quantity (Q*) are?
A) Q* = 24, P* = 2
B) Q* = 5, P* = 10
C) Q* = 16, P* = 4
D) Q* = 4, P* = 16
4) The industry supply curve shows the
A) minimum agree prices that sellers space willing to expropriate for the product.
B) maximum prices the buyers are willing and also able come pay for the product.
C) total revenues that sellers would get from selling miscellaneous quantities the the product.
D) total amount that buyers will pay in buying a given quantity that the product.
5) full revenue falls as the price the a great is raised, if the need for the good is
A) perfectly elastic.
C) unitary elastic.
The supply of product X is elastic if the price of X rises through
A) 5% and also quantity supplied rises through 7%.
B) 8% and also quantity provided rises by 8%.
C) 10% and also quantity offered remains the same.D) 7 % and also quantity gave rises through 5%.
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The simple formula because that the price elasticity of demand is
A) absolute decline in amount demanded split by absolute increase in price.
B) absolute decrease in price separated by absolute increase in quantity demanded.
C) percentage adjust in price separated by percentage readjust in quantity demanded.
D) percentage readjust in amount demanded split by percentage adjust in price.