ECO 561 Week 1 Quiz /ECO 561 Week 1 Quiz
ECO 561 Week 1 Quiz /ECO 561 Week 1 Quiz
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ECO 561 Week 1 Quiz /ECO 561 Week 1 Quiz
- Exam (elaborations) • 3 pages • 2019
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1. Revenue increases when
A. producer surplus increases
B. producer surplus decreases
C. consumer surplus increases
D. consumer surplus decreases
2. An increase in the price of an inelastic good
A. decreases revenues
B. decreases the percentage change in quantity less than the percentage change in price
C. increases revenues
D. increases the percentage change in quantity more than the percentage change in price
3. Price elasticity of Demand increases when
A. the number of complementary goods dec...
Exam (elaborations)
ECO 561 Week 1 Quiz /ECO 561 Week 1 Quiz
Last document update:
ago
1. Revenue increases when A. producer surplus increases B. producer surplus decreases C. consumer surplus increases D. consumer surplus decreases 2. An increase in the price of an inelastic good A. decreases revenues B. decreases the percentage change in quantity less than the percentage change in price C. increases revenues D. increases the percentage change in quantity more than the percentage change in price 3. Price elasticity of Demand increases when A. the number of complementary goods dec...
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