microeconomics
Posted: Sun Jun 05, 2022 11:37 am
microeconomics
Ticket prices to a Kanye West concert decrease from $60 to $40. As a result, ticket sales decrease from 40,000 to 60,000. The elasticity of demand for Kanye West tickets equals and demand is OA) 0.40; inelastic B) 1.8; elastic C) 0.83; inelastic D) 1,21; elastic O E) 0.55; inelastic
Question 14 (0.5 points) Listen If you consider Broccoli to be an inferior, then OA) broccoli is a low quality good. B) an increase in income increases the demand for broccoli. OC) broccoli violates the law of demand. D) an increase in the price of broccoli decreases the quantity of broccoli that consumers want to buy. O E) an increase in income decreases the demand for broccoli.
Question 16 (0.5 points) Listen Suppose that the headmistress of a girls' school wants to raise total expenditure, and is thinking about raising school tuition. If the headmistress believes that the result of an increase in tuition is an increase in expenditure, A) she is assuming that the demand for attending the school is unit-elastic. B) she is assuming that the demand for attending the school is perfectly elastic. C) she is assuming that the demand for attending the school has elasticity equal to zero. D) she is assuming that the demand for attending the school is inelastic. E) she is assuming that the demand for attending the school is elastic.
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Question 14 (0.5 points) Listen If you consider Broccoli to be an inferior, then OA) broccoli is a low quality good. B) an increase in income increases the demand for broccoli. OC) broccoli violates the law of demand. D) an increase in the price of broccoli decreases the quantity of broccoli that consumers want to buy. O E) an increase in income decreases the demand for broccoli.
Question 16 (0.5 points) Listen Suppose that the headmistress of a girls' school wants to raise total expenditure, and is thinking about raising school tuition. If the headmistress believes that the result of an increase in tuition is an increase in expenditure, A) she is assuming that the demand for attending the school is unit-elastic. B) she is assuming that the demand for attending the school is perfectly elastic. C) she is assuming that the demand for attending the school has elasticity equal to zero. D) she is assuming that the demand for attending the school is inelastic. E) she is assuming that the demand for attending the school is elastic.