All else equal, the price elasticity of demand for small-budget items such as soap tends to be __ than the price elasticity of demand for big-ticket items such as flat-screen TVs. A.lower B.very high C.the same D.higher 正确答案：lower

All else equal, compared to small-budget items such as paper towels, the price elasticity of demand for big-ticket items such as refrigerators is __. A.equal B.lower C.very low D.higher 正确答案：higher

You would expect the price elasticity of demand for transportation generally to be: A.less than price elasticity of the demand for bus tickets. B.greater than price elasticity of the demand for bus tickets. C.greater than price elasticity of the demand for bus tickets when bus ti … 阅读详情>> "You would expect the price elasticity of demand for transportation generally to be:"

Demand tends to be __ in the short run than in the long run. A.less elastic B.more variable C.less important D.more elastic 正确答案：less elastic

Suppose you have one hour to catch a flight to Miami for spring break, and it takes 45 minutes to drive to the airport. Your car is almost out of gas and the price of gas at the closest gas station is higher than at other gas stations that are much farther away. To you, the price … 阅读详情>> "Suppose you have one hour to catch a flight to Miami for spring break, and it takes 45 minutes to drive to the airport. Your car is almost out of gas and the price of gas at the closest gas station is higher than at other gas stations that are much farthe"

The reason a brand name item (e.g., Tyson chicken) has a larger price elasticity than a class of items (e.g., chicken) is that: A.the share of income spent on “chicken” is larger than spent on “Tyson Chicken”. B.it takes a lot of time to adjust to a substitute brand of chicken. C … 阅读详情>> "The reason a brand name item (e.g., Tyson chicken) has a larger price elasticity than a class of items (e.g., chicken) is that:"

Suppose that the short-run price elasticity of demand for electricity is 0.03, and the long-run price elasticity of demand is 1.2. One would classify the short-run elasticity as being _ and the long-run elasticity as being _. A.inelastic; elastic B.elastic; elastic C.inelastic; u … 阅读详情>> "Suppose that the short-run price elasticity of demand for electricity is 0.03, and the long-run price elasticity of demand is 1.2. One would classify the short-run elasticity as being _ and the long-run elasticity as being _."

Economists have found that the price elasticity of demand for water is higher in the summer than in the winter. Why is this likely to be so? A.Winter is longer than summer, and price elasticity is lower over longer time horizons. B.Summer is longer than winter, and price elastici … 阅读详情>> "Economists have found that the price elasticity of demand for water is higher in the summer than in the winter. Why is this likely to be so?"

If the elasticity of demand for the latest American Idol album is 1.4, this means A.a 5% increase in the price leads to a 7% decrease in quantity demanded. B.a 10% decrease in the price leads to a 140% increase in quantity demanded. C.a 1% increase in the price leads to a 14% dec … 阅读详情>> "If the elasticity of demand for the latest American Idol album is 1.4, this means"

Suppose you learn that in 1900, households spent about 40 percent of their budget on food, and today, they spend about 10 percent of their budget of food. All else equal, this suggests that the price elasticity of demand for food: A.is probably lower now than it was in 1900. B.is … 阅读详情>> "Suppose you learn that in 1900, households spent about 40 percent of their budget on food, and today, they spend about 10 percent of their budget of food. All else equal, this suggests that the price elasticity of demand for food:"

If the quantity demanded of a good is Q when the price for the good is P, the price elasticity of demand for that good at that point is: A.(P/Q) × (1/slope) B.(Q/P) × (1/slope) C.Q × P × (1/slope) D.(P/Q) × (slope) 正确答案：(P/Q) × (1/slope)

If the absolute value of slope of the demand curve is 2.5, price is $6 per unit, and the quantity demanded is 8 units, then the price elasticity of demand is: A.1.6. B.0.3. C.0.533. D.1.875. 正确答案：0.3.