微觀經(jīng)濟學(xué)(帕金11版)課后習題解答：chapter 4 Elasticity

1、Economics, 11e, Global Edition (Parkin) Chapter 4 Elasticity1 Price Elasticity of Demand1) Suppose the price of burgers increases from $2 to $3 each. The degree to which quantity demanded responds to this price increase depends on theA) price elasticity of demand.B) the price elasticity of supply.C)

2、 income elasticity of demand.D) cross elasticity of demand.Answer: ATopic: Price Elasticity of DemandSkill: AnalyticalStatus: OldAACSB: Analytical Skills2) The price elasticity of demand measuresA) how often the price of a good changes.B) the slope of a budget curve.C) how sensitive the quantity dem

3、anded is to changes in demand.D) the responsiveness of the quantity demanded to changes in price.Answer: DTopic: Price Elasticity of DemandSkill: DefinitionStatus: OldAACSB: Analytical Skills3) Elasticity measures theA) percentage change in a variable.B) slope of a curve.C) change in a variable.D) r

4、esponsiveness of a variable to a change in another variable.Answer: DTopic: Price Elasticity of DemandSkill: DefinitionStatus: OldAACSB: Analytical Skills4) The price elasticity of demand for purses is measured in what units?A) dollarsB) pursesC) dollars per purseD) The price elasticity of demand is

5、 a unitless measure.Answer: DTopic: Price Elasticity of DemandSkill: RecognitionStatus: RevisedAACSB: Analytical Skills5) The price elasticity of demand is defined as the magnitude of theA) change in quantity demanded divided by the change in price.B) change in price divided by the change in quantit

6、y demanded.C) percentage change in quantity demanded divided by the percentage change in price.D) percentage change in price divided by the percentage change in quantity demanded.Answer: CTopic: Price Elasticity of DemandSkill: DefinitionStatus: OldAACSB: Analytical Skills6) The price elasticity of

7、demand is calculated as the absolute value of theA) percentage change in quantity demanded divided by the percentage change in price.B) percentage change in price divided by the percentage change in quantity demanded.C) change in quantity demanded divided by the change in price.D) change in price di

8、vided by the change in quantity demanded.Answer: ATopic: Price Elasticity of DemandSkill: DefinitionStatus: OldAACSB: Analytical Skills7) The price elasticity of demand equals magnitude of theA) change in the price divided by the change in quantity demanded.B) change in the quantity demanded divided

9、 by the change in price.C) percentage change in the price divided by the percentage change in the quantity demanded.D) percentage change in the quantity demanded divided by the percentage change in the price.Answer: DTopic: Calculating ElasticitySkill: DefinitionStatus: OldAACSB: Analytical Skills8)

10、 The price elasticity of demand is equal to the _ in the _ divided by the _ in the _.A) percentage change; price; percentage change; quantity demandedB) change; price; change; quantity demandedC) percentage change; quantity demanded; percentage change; priceD) change; quantity demanded; change; pric

11、eAnswer: CTopic: Price Elasticity of DemandSkill: DefinitionStatus: OldAACSB: Analytical Skills9) The price elasticity of demand depends onA) the units used to measure price and the units used to measure quantity.B) the units used to measure price but not the units used to measure quantity.C) the un

12、its used to measure quantity but not the units used to measure price.D) neither the units used to measure price nor the units used to measure quantity.Answer: DTopic: Price Elasticity of DemandSkill: ConceptualStatus: OldAACSB: Analytical Skills10) When the quantity of coal is measured in kilograms

13、instead of pounds, the demand for coal becomesA) more elastic.B) less elastic.C) neither more nor less elastic.D) undefined.Answer: CTopic: Calculating ElasticitySkill: ConceptualStatus: OldAACSB: Analytical Skills11) The price elasticity of demand for oranges _ change if the units of the quantity w

14、as changed from pounds to kilograms and _ change if the units of the price was changed from dollars to cents.A) would; wouldB) would; would notC) would not; wouldD) would not; would notAnswer: DTopic: Price Elasticity of DemandSkill: ConceptualStatus: OldAACSB: Analytical Skills12) Suppose the quant

15、ity of gasoline is measured in gallons and the price of gasoline is measured in dollars. The price elasticity of demand is 0.67. If the price of gasoline was now measured in cents rather than dollars, the price elasticity of demand would now beA) 0.0067.B) 0.67.C) 6.7.D) 67.0.Answer: BTopic: Price E

16、lasticity of DemandSkill: AnalyticalStatus: OldAACSB: Analytical Skills13) A decrease in the price of eggs from $1.50 to $1.30 per dozen resulted in an increase in egg purchases in two cities. In Philadelphia, daily egg purchases increased from 6000 to 8000 dozens; in nearby Dover, Delaware, daily e

17、gg purchases increased from 300 to 400 dozens. The price elasticity of demand is thereforeA) lower in the smaller city as would be expected.B) greater in the smaller city as would be expected.C) certainly affected by population differences in different markets.D) the same in Philadelphia as in Dover

18、.Answer: DTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills14) Dan sells newspapers. Dan says that a 4 percent increase in the price of a newspaper will decrease the quantity of newspapers demanded by 8 percent. According to Dan, the demand for newspapers is _.A) inel

19、asticB) unit elasticC) perfectly elasticD) elasticAnswer: DTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills15) The price elasticity of demand for furniture is estimated at 1.3. This value means a one percent increase in theA) price of furniture will increase the quan

20、tity of furniture demanded by 1.3 percent.B) price of furniture will decrease the quantity of furniture demanded by 1.3 percent. C) quantity of furniture demanded will decrease the price of furniture by 1.3 percent.D) quantity of furniture demanded will increase the price of furniture by 1.3 percent

21、.Answer: BTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills16) The price elasticity of demand for oil is estimated at 0.05. This value means a 10 percent increase in theA) quantity of oil demanded will result from a 0.5 percent increase in the price of oil. B) quantit

22、y of oil demanded will result from a 0.5 percent decrease in the price of oil. C) price of oil will increase the quantity of oil demanded by 0.5 percent.D) price of oil will decrease the quantity of oil demanded by 0.5 percent. Answer: DTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB:

23、 Analytical Skills17) If a 6 percent decrease in the price leads to a 5 percent increase in the quantity demanded, the price elasticity of demand isA) 0.30.B) 0.60.C) 0.83.D) 1.20.Answer: CTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills18) A 10 percent increase in t

24、he quantity of spinach demanded results from a 20 percent decline in its price. The price elasticity of demand for spinach isA) 0.5.B) 2.0.C) 10.0.D) 20.0.Answer: ATopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills19) A 20 percent increase in the quantity of pizza dema

25、nded results from a 10 percent decline in its price. The price elasticity of demand for pizza isA) 0.5.B) 2.0.C) 10.0.D) 20.0.Answer: BTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills20) If a 20 percent increase in the price of a used car results in a 10 percent decr

26、ease in the quantity of used cars demanded, then the price elasticity of demand equalsA) 0.5.B) 1.0.C) 2.0.D) 10.0.Answer: ATopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills21) If the price of a movie ticket increases by 4 percent and the quantity of movies demanded f

27、alls by 2 percent, the price elasticity of demand isA) 2.0.B) 4.0.C) 0.5.D) some amount that cannot be determined without more information.Answer: CTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills22) If the price of a burger decreases by 5 percent and as a result the

28、 quantity of burgers demanded increases by 8 percent, the price elasticity of demand equalsA) 0.60.B) 0.40.C) 1.60.D) 0.625.Answer: CTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills23) If the quantity demanded of hamburgers increases by 20 percent when the price decr

29、eases by 5 percent, then the price elasticity of demand isA) 0.25.B) 4.0.C) 20.0.D) 5.0.Answer: BTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills24) Suppose that the quantity of pizza demanded decreased by 15 percent after an increase in price of 10 percent. What is

30、the price elasticity of demand for pizza?A) 1.50.B) 0.67.C) -1.50.D) -0.67.Answer: ATopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills25) Suppose a drought increased the price of corn by 25 percent while it decreased the quantity by 50 percent. The price elasticity of

31、demand equalsA) 2.00.B) 0.50.C) 20.0.D) Zero.Answer: ATopic: Calculating ElasticitySkill: AnalyticalStatus: NewAACSB: Analytical Skills26) The worst drought in over 50 years has decimated crops of soy beans and corn in the United States. (Source: New York Times, August 10, 2012). Because the product

32、ion of corn has decreased, prices are expected to increase by 25 percent. These data are insufficient for calculating the elasticity of demand because we also need to know theA) percentage increase in income.B) percentage increase in quantity.C) percentage decrease in quantity.D) increase in bushels

33、 per acre.Answer: CTopic: Calculating ElasticitySkill: ConceptualStatus: NewAACSB: Reflective Thinking27) When the price of a movie ticket increases from $5 to $7, the quantity of tickets demanded decreases from 600 to 400 a day. What is the price elasticity of demand for movie tickets?A) 0.83B) 1.2

34、0C) 1.00D) 2.32Answer: BTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills28) Suppose a rise in the price of peaches from $5.50 to $6.50 per bushel decreases the quantity demanded from 12,500 to 11,500 bushels. The price elasticity of demand isA) 0.5.B) 1.0.C) 2.0.D) 1

35、000.0.Answer: ATopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills29) Taco Bells economists determine that the price elasticity of demand for their tacos is 2.0. So, if Taco Bell raises the price of its tacos by 6.0 percent, the quantity demanded will decrease by _ perc

36、ent.A) 2.0B) 3.0C) 6.0D) 12.0Answer: DTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills30) Using average price and average quantity, calculate the price elasticity of demand if a price rise from $8 to $10 and decreases the quantity demanded from 20 units to 15 units.

37、The price elasticity of demand equalsA) 2.5.B) 1.29.C) 0.78.D) 0.06Answer: BTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills31) A local pizzeria raised its price from $9 to $11 for each pizza and the sales of its pizza decreased from 150 to 100 per day. What is the p

38、rice elasticity of demand in this case?A) 1/2B) -2C) -1/2D) 2Answer: DTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills32) Using the average price and average quantity, what is the elasticity of demand for oranges when the price of oranges changes from $200 to $160 pe

39、r bushel and so the quantity demanded changes from 1000 to 1400 bushels?A) 1.5B) 0.1C) 10.0D) 0.67Answer: ATopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills33) If the price of a soda increases from 75 to $1.00 and as a result the quantity demanded of sodas decreases f

40、rom 10 to 9 per week, the elasticity of demand for sodas equalsA) 2.72.B) 0.37.C) 0.83.D) 1.20.Answer: BTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills34) When the price of oranges increases from $4 to $6 per bag, the quantity demanded of oranges decreases from 800

41、bags to 700 bags. The price elasticity of demand over this price range is equal toA) 3.B) 3/7 or 0.4286.C) 1/3 or 0.3333.D) 1/4 or 0.25.Answer: CTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills35) Florida State University has just lowered the price of its season foot

42、ball tickets from $350.00 to $300.00. As a result, there was an increase in the number of season tickets purchased from 43,000 to 47,000. The price elasticity of demand for season tickets equalsA) 1.71.B) 1.58.C) 0.71.D) 0.58.Answer: DTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: A

43、nalytical Skills36) Suppose the quantity demanded is 5 units when the price is $1.00. If the price rises to $2.00, the quantity demanded falls to 3 units. The price elasticity of demand isA) 0.5.B) 0.75.C) 1.33.D) 2.00.Answer: BTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytic

44、al Skills37) A fall in the price of lemons from $10.50 to $9.50 per bushel increases the quantity demanded from 19,200 to 20,800 bushels. The price elasticity of demand isA) 0.80.B) 1.20.C) 1.25.D) 8.00.Answer: ATopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills38) Las

45、t year the price of corn was $3 per bushel and the quantity of corn demanded was 8 million bushels. This year the price of corn is $4 per bushel and the quantity of corn demanded is 7 million bushels. Assuming that the demand curve has not shifted, what is the price elasticity of demand for corn? (U

46、se the midpoint formula.) A) 1B) 0.47C) 2.14D) 0.29Answer: BTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills39) A fall in the price of cabbage from $10.50 to $9.50 per bushel increases the quantity demanded from 18,800 to 21,200 bushels. The price elasticity of deman

47、d isA) 0.80.B) 1.20.C) 1.25.D) 8.00.Answer: BTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills40) Suppose that the quantity of root beer demanded declines from 103,000 gallons per week to 97,000 gallons per week as a consequence of a 10 percent increase in the price o

48、f root beer. The price elasticity of demand isA) 0.60.B) 1.40.C) 1.66.D) 6.00.Answer: ATopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills41) The price elasticity of demand is 5.0 if a 10 percent increase in the price results in a _ decrease in the quantity demanded.A)

49、2 percentB) 5 percentC) 10 percentD) 50 percentAnswer: DTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills42) A shift of the supply curve of DVDs raises the price of a DVD from $9.50 to $10.50 a DVD and reduces the quantity demanded from 41 million to 39 million DVDs a

50、 month. The price elasticity of demand for DVDs isA) 2 million DVDs a month per dollar.B) $1 per 2 million barrels a day.C) 0.5.D) 2.0.Answer: CTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills43) A decrease in the supply of sugar increases the price of sugar from $1.

51、00 a packet to $1.25 a packet. The quantity decreases from 100 packets a day to 80 packets a day. The price elasticity of demand of sugar is _.A) 0.75B) 0.5C) 1.0D) 1.25Answer: CTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills44) Suppose the price elasticity of deman

52、d for oil is 0.1. In order to lower the price of oil by 20 percent, the quantity of oil supplied must be increased byA) 200 percent.B) 20 percent.C) 2 percent.D) 0.2 percent.Answer: CTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills45) The price elasticity of demand f

53、or cigarettes is 0.4. If government wants to reduce smoking by 10 percent, by how much should it raise the price of cigarettes by imposing a tax?A) by 10 percentB) by 20 percentC) by 25 percentD) by 50 percentAnswer: CTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills4

54、6) The price elasticity of demand for DVDs is 2. If the price of a DVD increased by 2 percent, the quantity demanded will _.A) decrease by 2 percentB) not changeC) decrease by 4 percentD) decrease by 1 percentAnswer: CTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills4

55、7) Suppose the price elasticity of teenagers demand for cigarettes is 2.0. If the government imposes a tax on cigarettes that raises the price by 10 percent, by how much will it reduce teenaged smoking?A) by 5 percentB) by 10 percentC) by 15 percentD) by 20 percentAnswer: DTopic: Calculating Elastic

56、itySkill: AnalyticalStatus: OldAACSB: Analytical Skills48) According to one study, the price elasticity of demand for cigarettes is 0.25. To decrease the consumption of cigarettes by 8 percent, a tax on cigarettes must raise the price of cigarettes by A) 32 percent.B) 25 percent.C) 2 percent.D) 3.1

57、percent.Answer: ATopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills49) The Economics in Action in the text mentions that the elasticity of demand for agricultural products is 0.42. If a drought boosts the price of corn 25 percent, then we can calculate the quantity of

58、corn demanded _.A) increased by 10.5 percentB) decreased by 10.5 percentC) increased by 8.4 percentD) decreased by 8.4 percentAnswer: BTopic: Calculating ElasticitySkill: AnalyticalStatus: NewAACSB: Analytical Skills50) Because of an increase in the price of leather, the price of a pair of womens dr

59、ess shoes increased 12 percent. If the price elasticity of demand for womens dress shoes is 0.85, which of the following will happen?A) Total expenditure on womens dress shoes decreases.B) The number of pairs of womens dress shoes demanded decreases by 10.2 percent.C) Total revenue from the sale of

60、womens dress shoes decreases.D) none of the aboveAnswer: BTopic: Calculating ElasticitySkill: AnalyticalStatus: OldAACSB: Analytical Skills51) The price elasticity of demand for new cars is 1.2. Hence, a 10 percent price increase willA) decrease the quantity of new cars demanded by 1.2 percent.B) in