答案和详解如下： Q6. If quantity demanded increases 15% when the price drops 1%, demand for this good: A) perfectly elastic. B) inelastic, but not perfectly inelastic. C) elastic, but not perfectly elastic. Correct answer is C) Whenever quantity demanded for a good changes by a greater percentage than price, the price elasticity of demand will be greater than 1.0 and demand for the product is considered to be elastic. Q7. For a linear demand curve, at the price where elasticity is -2.0, reducing prices will: A) increase total revenue and we are at the point of maximum total revenue. B) increase total revenue and we are not at the point of maximum total revenue. C) decrease total revenue and we are not at the point of maximum total revenue. Correct answer is B) If the price elasticity of demand is -2.0, this indicates that the percentage change in quantity demanded is twice the percentage change in price. Thus, a decrease in price will be more than offset by the increase in quantity, and total revenue will increase. We are not at the point of maximum total revenue which is where elasticity is -1.0—the point of unit elastic demand.
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发表于 2008-12-31 09:37
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