The thought of point suppleness is employed to own computing price flexibility the spot where the improvement in price is ________

June 18, 2022

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The thought of point suppleness is employed to own computing price flexibility the spot where the improvement in price is ________

93. In the case of a straight-line request contour conference the new one or two axes, the cost-flexibility out of request at mid-area of your own range was: (a) 0 (b) step 1 (c) step one.5 (d) dos Address: (b) step one

(a) Elasticity at point A = ?, at B = > 1, at C = 1, at D = < 1 and E = 0 (b) Elasticity at A = 0, at B = < 1, at C = 1, at D = > 1 and E = ? (c) Elasticity at A = 0, at B > 1, at C = 1, at D = < 1 and at E = 0 (d) None of these Answer: (a) Elasticity at point A = ?, at B = > 1, at C = 1, at D = < 1 and E = 0

96. The price elasticity of demand at the midpoint of the straight line demand curve under point method is ________. (a) 0 (b) 1 (c) > 1 (d) < 1 Answer: (b) 1

97. Area flexibility is useful for and that of one’s after the items? (a) Brand new bookstore is provided doubling the price of notebook computers. (b) A restaurant are considering reducing the cost of its most high-priced dishes from the 50 %. (c) A motor vehicle music producer has an interest into the deciding the fresh new reaction of people into price of autos being reduced by ? 100. (d) None of the significantly more than. Answer: (c) A motor vehicle manufacturer has an interest for the choosing the newest response from users towards the cost of cars are lowered by ? 100.

98. The price of an item decreases off ? six so you can ? 4 and the number de–manded of a beneficial expands of 10 equipment so you’re able to fifteen systems, additionally the coefficient out of rate elasticity. (Fool around with Point Elasticity Approach) (a) step one.5 (b) dos.5 (c) – step one.5 (d) 0.5 Respond to: (c) – step 1.5

99. When your price of sky-conditioner expands off ? 31,100 to help you ? 31,010 and you will resultant change in request try minimal, we use the way of measuring ________ to measure flexibility. (a) Area suppleness. (b) Primary flexibility. (c) Perfect inelasticity. (d) Speed suppleness. Answer: (a) Area elasticity.

Elasticity ranging from a few activities: (a) Point flexibility (b) Arch flexibility (c) Mix suppleness (d) None Answer: (b) Arc suppleness

101. Assume the expense of clips viewed during the a movie theater increases away from ? 120 per person to ? two hundred per individual. What is the price flexibility regarding need for clips? (Fool around with Arc Suppleness Means) (a) 5 (b) 8 (c) step 1.0 (d) step one.2 Respond to: (b) 8

102. Suppose a department store has actually a sale on the the cutlery. In case the price of a platter-setting is actually faster of ? 3 hundred to ? two hundred additionally the quantity recommended expands regarding step three,100000 plate-options to 5,100 dish-configurations, what’s the speed flexibility away from interest in silverware? (Fool around with Arc Suppleness Means) top article (a) .8 (b) step one.0 (c) step one.twenty-five (d) 1.fifty Respond to: (c) step 1.twenty-five

103. Whether your local pizzeria enhances the price of a medium pizza of ? 60 in order to ? one hundred and you can wide variety necessary falls regarding 700 pizzas a night so you’re able to 100 pizzas every night, the cost elasticity off need for pizzas is actually: (Use Arch Elasticity Method) (a) .67 (b) 1.5 (c) 2.0 (d) 3.0 Respond to: (d) step 3.0

The fresh the fresh atre manager notices that the upsurge in rates grounds attendance on confirmed motion picture to-fall out of three hundred individuals in order to 2 hundred persons

104. If irrespective of alterations in the rates, extent necessary a good remains unchanged, then the demand curve to your good could well be: (a) Lateral. (b) Vertical. (c) Surely sloped. (d) Negatively sloped. Answer: (b) Straight.