Cross Price Elasticity - Revision

Quiz
•
Other
•
11th Grade
•
Medium
Ashley Koon
Used 125+ times
FREE Resource
14 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The price elasticity of demand is:
the ratio of the percentage change in quantity demanded to the percentage change in price.
the responsiveness of revenue to a change in quantity.
the ratio of the change in quantity demanded divided by the change in price.
the response of revenue to a change in price.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
.If demand is price elastic, then:
a rise in price will raise total revenue.
a fall in price will raise total revenue.
a fall in price will lower the quantity demanded.
a rise in price won't have any effect on total revenues.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Complementary goods have:
the same elasticities of demand.
very low price elasticities of demand.
negative cross price elasticities of demand with respect to each other.
positive income elasticities of demand.
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