IB Economics Unit 2.3: Microeconomics - Elasticities

1#

The table below indicates the supply schedule for orange4 j 6nltorcq tw6im :+gl9:*phs

Price(US$/dozen)	Quantity supplied (dozens)
6	20
7	28

Calculate the price elasticity of supply (PES) when the price of a dozen oranges increases from US$\$$6 to US$\$$7?

A. 4

B. 2.4

C. 0.42

D. 8

绑定到本题的附件链接:
绑定到本题的上传图片:

参考答案: 查看本题详细解析

进入本题讨论区，参与讨论

标记此题

2#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Identify which of the following is a detext9sk w+nyxgb 0z5e w) l)40uhrminant of price elasticity of supply (P)9yhxlng5t s)e +x0u0 4bwwkzES).

A. Ability to store

B. Availability of substitutes

C. Proportion of income spent

D. Degree of necessity

绑定到本题的附件链接:
绑定到本题的上传图片:

参考答案: 查看本题详细解析

进入本题讨论区，参与讨论

本习题练习题目来源于题库网 (https://tiku.one)，学生可刷题练习，扫右侧二维码或加微信skysky1258，获取更多资料
教师可以抽题组卷或一键复制本试卷，布置为在线考试或在线作业，全自动判分成绩一键排序导出，省时省力

标记此题

3#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Assume the price elasticity of de:/.ntno 6 toxff4*ourmand (PED) for a home cleaning service changes from 1.81.8 to 1.21.2. Which of the following state.ofn:to o46*tunr fx/ments explain this change?
I. a competing firm increased its operating hours
II. a competing firm begins focusing on office cleaning
III. incomes of potential customers increase

A. I only

B. I and II only

C. I and III only

D. II and III only

绑定到本题的附件链接:
绑定到本题的上传图片:

参考答案: 查看本题详细解析

进入本题讨论区，参与讨论

标记此题

4#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

What market that is most likely pictured in the diagram above?

A. Pills produced by a pharmaceutical company

B. Smartphones produced by an electronics company

C. Tickets at a sporting event at a stadium

D. Barrels of oil sold by an oil company

绑定到本题的附件链接:
绑定到本题的上传图片:

参考答案: 查看本题详细解析

进入本题讨论区，参与讨论

标记此题

5#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

In the market for a good, (h/qp1 qcvtpe8qg;g4g .6t fcassume the income of consumers increases by 10% and quantity demanded of the good increases by 5%. Calculate the income elasticity of demand (YED)t( 86h1g. qtcpqgqg p4 ;fcev/, and state the type of good it is.

A. YED is 0.5,Type of good is Luxury

B. YED is 0.5,Type of good is Necessity

C. YED is 2,Type of good is Normal

D. YED is 2,Type of good is Inferior

绑定到本题的附件链接:
绑定到本题的上传图片:

参考答案: 查看本题详细解析

进入本题讨论区，参与讨论

本习题练习题目来源于题库网 (https://tiku.one)，学生可刷题练习，扫右侧二维码或加微信skysky1258，获取更多资料
教师可以抽题组卷或一键复制本试卷，布置为在线考试或在线作业，全自动判分成绩一键排序导出，省时省力

标记此题

6#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Identify which of the9v1, topk(qjwq, mil1sk-g (l following are valid reasons why the price elasticity of supply (PES) for primary commodities is generally lower than the PES for m-1wk 1 s (qlimgvj(ot,qk9,lpanufactured products.

A. Primary commodities is Tend to be necessities,Manufactured products is Likely to be easier to store

B. Primary commodities is Take time to grow/extract ,Manufactured products is Tend to be luxuries

C. Primary commodities is Have few substitutes,Manufactured products is Have many substitutes

D. Primary commodities is Take time to grow/extract ,Manufactured products is Likely to be easier to store

绑定到本题的附件链接:
绑定到本题的上传图片:

参考答案: 查看本题详细解析

进入本题讨论区，参与讨论

标记此题

7#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Rrice	Quantity demanded
US$20	100
US$21	97

Calculate the price elasticity of demand for the product in the table above when the price increases from US $\$$20 to US $\$$21.

A. 3

B. 1.67

C. 0.6

D. 0.33

绑定到本题的附件链接:
绑定到本题的上传图片:

参考答案: 查看本题详细解析

进入本题讨论区，参与讨论

标记此题

8#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

In the hypothetical country of Smokeland, the government implements high indirecm -wfzhfbsbs79 ;2rzvxvk,n * i0;2tjt taxes on cigarettes to deter consumption. Strict regulations on advertising and promotion, coupled with public health programs funded by tax revenue2b9;nfj2wzvifv*zh m -;r t7xs0,skb s, lead to reduced smoking rates and improved public health outcomes.
Which of the following is not a possible outcome of these forms of government intervention?

A. Job losses in the tobacco industry.

B. Reductions in incomes of tobacco farmers.

C. Smuggling of cigarettes from neighbouring countries.

D. The tax burden falling disproportionately on the tobacco industry.

绑定到本题的附件链接:
绑定到本题的上传图片:

参考答案: 查看本题详细解析

进入本题讨论区，参与讨论

标记此题

9#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

The price of a product falls fre7pskow-v/u7jzmbt h1 h1*+ gom $\$$30 to $\$$25, and as a result, quantity supplied decreases from 250 000 to 200 000. Calculate the PES and determine whether supply is price-elastic or price-inelastic.

A. PES values is 0.83,Price-elastic or inelastic is price-inelastic

B. PES values is 1.20,Price-elastic or inelastic is price-elastic

C. PES values is 1.20,Price-elastic or inelastic is price-inelastic

D. PES values is 0.83,Price-elastic or inelastic is price-elastic

绑定到本题的附件链接:
绑定到本题的上传图片:

参考答案: 查看本题详细解析

进入本题讨论区，参与讨论

标记此题

10#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

For a straight-line demand curve, which of the following will 9jlvru7dgd2g a8ezo 4 4n6o) toccur when the price il9oj4oag zdgr )784 u6nvet2ds lowered?

A. The total revenue decreases.

B. The demand curve shifts rightward.

C. The price elasticity of demand decreases.

D. The demand curve for complements shifts leftward.

绑定到本题的附件链接:
绑定到本题的上传图片:

参考答案: 查看本题详细解析

进入本题讨论区，参与讨论

标记此题

11#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Which point on the Engel curve above identifies the situation where blankets are a luxury good?

A. choice A

B. choice B

C. choice C

D. choice D

绑定到本题的附件链接:
绑定到本题的上传图片:

参考答案: 查看本题详细解析

进入本题讨论区，参与讨论

本习题练习题目来源于题库网 (https://tiku.one)，学生可刷题练习，扫右侧二维码或加微信skysky1258，获取更多资料
教师可以抽题组卷或一键复制本试卷，布置为在线考试或在线作业，全自动判分成绩一键排序导出，省时省力

标记此题

12#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

For a 5% decrease in the price of a good, assum:r;bvlls)o vl :vd2j 9e the price elasticity of demand (PED) is −1.95. Which group of outcomes below correctly : ;vl):dbolj vs9l2r vdetermines the impact of the change in price of the good?

A. Total revenue is Increases,Quantity demanded is Increases by 9.75%

B. Total revenue is Increases,Quantity demanded is Increases by 2.78%

C. Total revenue is Decreases,Quantity demanded is Increases by 9.75%

D. Total revenue is Decreases,Quantity demanded is Increases by 2.78%

绑定到本题的附件链接:
绑定到本题的上传图片:

参考答案: 查看本题详细解析

进入本题讨论区，参与讨论

标记此题

13#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

	Gizmos	Whats its	Widgets
Firm A weekly production	80	70	50
Income elasticity of demand(YED)	1.2	0.6	-0.4

Assume consumers' incomes fall, and the chief operating officer of Firm A recommends reallocating production inputs to reflect changes in demand. Which of the following recommended reallocations would lead to the greatest increase in sales for Firm A?

A. produce 100 gizmos, 80 whatsits, and 20 widgets

B. produce 150 gizmos, 50 whatsits, and 0 widgets

C. produce 40 gizmos, 100 whatsits, and 60 widgets

D. produce 45 gizmos, 55 whatsits, and 90 widgets

绑定到本题的附件链接:
绑定到本题的上传图片:

参考答案: 查看本题详细解析

进入本题讨论区，参与讨论

本习题练习题目来源于题库网 (https://tiku.one)，学生可刷题练习，扫右侧二维码或加微信skysky1258，获取更多资料
教师可以抽题组卷或一键复制本试卷，布置为在线考试或在线作业，全自动判分成绩一键排序导出，省时省力

标记此题

14#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Oil has price inelastic supply becau:ju4s 9z:fhxl se
I. It has limited substitutes
II. It takes time to adjust production inputs
III. Production involves a high cost
IV. It is a necessity

A. I and II only

B. I and IV only

C. II only

D. II, III and IV

绑定到本题的附件链接:
绑定到本题的上传图片:

参考答案: 查看本题详细解析

进入本题讨论区，参与讨论

标记此题

15#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Consumer electronics have price elastv: rtg4;la9f iw/;itm0gi0reic supply because
I. They are durable and can be stored
II. They do not take a long time to produce
III. They have a lot of substitutes
IV. They are luxuries

A. I only

B. I and II only

C. II only

D. III and IV only

绑定到本题的附件链接:
绑定到本题的上传图片:

参考答案: 查看本题详细解析

进入本题讨论区，参与讨论

标记此题

16#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Which of the following statements correctly compares the supply curves above?

A. $S_1$ has the highest elasticity of supply

B. $S_2$ has the highest elasticity of supply

C. $S_3$ has the highest elasticity of supply

D. All 3 curves have the same elasticity of supply

绑定到本题的附件链接:
绑定到本题的上传图片:

参考答案: 查看本题详细解析

进入本题讨论区，参与讨论

标记此题

17#

单选题 ( 1.0 分) 切至整卷模式搜藏此题

Assume that the pricq- lt0;h4gz.r 5byoeyly 9 w.be elasticity of supply is 3 when the price of a product incrbe4-9 g;.q0l yyhow5l b ytzr.eases from $\$$40 to $\$$42.
If the change in quantity supplied is 270, how many units of the product will suppliers produce at the current price?

A. 1800

B. 5400

C. 810

D. 264

绑定到本题的附件链接:
绑定到本题的上传图片:

参考答案: 查看本题详细解析

进入本题讨论区，参与讨论

本习题练习题目来源于题库网 (https://tiku.one)，学生可刷题练习，扫右侧二维码或加微信skysky1258，获取更多资料
教师可以抽题组卷或一键复制本试卷，布置为在线考试或在线作业，全自动判分成绩一键排序导出，省时省力

账号		自动登录	找回密码
密码			立即注册

未使用图片

本次作答已使用