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Microeconomics: Elasticity
Introduction
Demand & Supply
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Multiple Choice
Crossword
Utility
Elasticity
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Multiple Choice
Exam question 1
Exam question 2
Market Structures
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Multiple Choice
Production & Costs
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Multiple Choice
Microeconomics
Topic 3
: Elasticity & Supply
Matching Exercise
Exam Question 1.
Exam Question 2.
Multiple Choice
Elasticity Matching Exercise
Topic 4 - Elasticity
Topic 3: Elasticity - Matching Exercise
Match the items on the right to the items on the left
Check
Positive Income Elasticity of Demand
Select Answer
The percentage change in quantity demanded is greater than the percentage change in price
∆TR / ∆Q
%∆QS / %∆P
%∆Qd / %∆P
Price * Quantity
The percentage change in quantity demanded is less than the percentage change in price
Total revenue decreases
Total revenue increases
Inferior Good
Normal Good
Price Elasticity of Demand
Select Answer
The percentage change in quantity demanded is greater than the percentage change in price
∆TR / ∆Q
%∆QS / %∆P
%∆Qd / %∆P
Price * Quantity
The percentage change in quantity demanded is less than the percentage change in price
Total revenue decreases
Total revenue increases
Inferior Good
Normal Good
Total Revenue
Select Answer
The percentage change in quantity demanded is greater than the percentage change in price
∆TR / ∆Q
%∆QS / %∆P
%∆Qd / %∆P
Price * Quantity
The percentage change in quantity demanded is less than the percentage change in price
Total revenue decreases
Total revenue increases
Inferior Good
Normal Good
Demand is elastic and a price decrease occurs, what is the impact on total revenue?
Select Answer
The percentage change in quantity demanded is greater than the percentage change in price
∆TR / ∆Q
%∆QS / %∆P
%∆Qd / %∆P
Price * Quantity
The percentage change in quantity demanded is less than the percentage change in price
Total revenue decreases
Total revenue increases
Inferior Good
Normal Good
Marginal Revenue
Select Answer
The percentage change in quantity demanded is greater than the percentage change in price
∆TR / ∆Q
%∆QS / %∆P
%∆Qd / %∆P
Price * Quantity
The percentage change in quantity demanded is less than the percentage change in price
Total revenue decreases
Total revenue increases
Inferior Good
Normal Good
Price Inelastic
Select Answer
The percentage change in quantity demanded is greater than the percentage change in price
∆TR / ∆Q
%∆QS / %∆P
%∆Qd / %∆P
Price * Quantity
The percentage change in quantity demanded is less than the percentage change in price
Total revenue decreases
Total revenue increases
Inferior Good
Normal Good
Price Elasticity of Supply
Select Answer
The percentage change in quantity demanded is greater than the percentage change in price
∆TR / ∆Q
%∆QS / %∆P
%∆Qd / %∆P
Price * Quantity
The percentage change in quantity demanded is less than the percentage change in price
Total revenue decreases
Total revenue increases
Inferior Good
Normal Good
Demand is inelastic and a price decrease occurs, what is the impact on total revenue?
Select Answer
The percentage change in quantity demanded is greater than the percentage change in price
∆TR / ∆Q
%∆QS / %∆P
%∆Qd / %∆P
Price * Quantity
The percentage change in quantity demanded is less than the percentage change in price
Total revenue decreases
Total revenue increases
Inferior Good
Normal Good
Negative Income Elasticity of Demand
Select Answer
The percentage change in quantity demanded is greater than the percentage change in price
∆TR / ∆Q
%∆QS / %∆P
%∆Qd / %∆P
Price * Quantity
The percentage change in quantity demanded is less than the percentage change in price
Total revenue decreases
Total revenue increases
Inferior Good
Normal Good
Price Elastic
Select Answer
The percentage change in quantity demanded is greater than the percentage change in price
∆TR / ∆Q
%∆QS / %∆P
%∆Qd / %∆P
Price * Quantity
The percentage change in quantity demanded is less than the percentage change in price
Total revenue decreases
Total revenue increases
Inferior Good
Normal Good
Check
OK
