ECON 5410 Lecture 20:

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taupewalrus761

20 Apr 2020

School

Ohio State University

Department

Economics

Course

ECON 5410

Professor

Robertde Jong

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Document Summary

S e t o f r 0 0 do . 5 ! o c k p r i c c. ::t=t" 5 - i a t i c. 1 "7oje l s n i r: t, o r v o r ; o bl. \:-i""""" p e r i o d . S u p p o s e . t e i l ) i i i b < ; i ) n , \ l- re. tvr n ~ ic: v l o t t - l. L t-+ i t ~ 2. l -t 3. shor-l- - r " n ( i n \ p a c i ) pro p e n s i t-d p r - o p e n s ; t d. ~ e n w h a k r u n p r a p e . r , s i t ~ . v-lh~t.

Related Questions

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

24. Again, the government places a $30 per unit tax on the buyers of widgets. At the new equilibrium, the price paid by buyers (including the tax paid) will be: A) $120 B) $123 C) $126 D) $129 E) $132 F) $135 G) $138 H) $141 1) $144 J) $147 K) $150 L) $153 M) $156 N) $159 O) $162 P) $165 Q) $168 R) $171 S) $174 T) $177 U) $180 V) $183 W) $240 X) $1500 Y) $3000 Z) none of the above

ECON 5410 Lecture 20:

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