ECON 106P Lecture 10: Econ 106P Lecture Notes 6.1

- - - - - - - - K - - - - Price of Newsprint - - - I l l l l ls Market for Newsprint FIGURE 33-5 4) Refer to Figure 33-5. If Paperland engages in international trade and the world price is PA, the amount of newsprint will be A) imported; Qs -Q B) exported; Os C) imported; Q. D) exported; Qs - Q E) imported; Qs - Q3

20. At the point on the demand curve where Q = 16 and P = 40, the elasticity of demand, expressed as a positive number, is: A)0 B) 1 C) 1/5 D) 5 E) 1/7 F) 7 G) 5/7 H) 7/5 1) 35 J) 1/35 K) 10/7 L) 7/10 M) 40 N) 1/40 O) 12/7 P) 7/12 Q) 12/5 R) 5/12 S) 2/5 T) 5/2 U) 2 V) 1/2 W) 2/25 X) 25/2 Y) none of the above

19. At the point on the demand curve where Q = 10 and P=70, the elasticity of demand, expressed as a positive number, is: A) O B) 1 C) 1/5 D) 5 E) 1/7 F) 7 G) 5/7 H) 715 1) 35 J) 1/35 K) 10/7 L) 7/10 M) 40 N) 1/40 0) 12/7 P) 7/12 Q) 12/5 R) 5/12 S) 2/5 T) 5/2 U) 2 V) 1/2 W) 2/25 X) 25/2 Y) none of the above