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Micro 2.3, 2.4, 2.5 Quiz: PED, PES, Income and Cross Price C

Last updated 6 months ago

5 questions

0

1

Question 2

2.

1

6

5

Question 1

1.

Other Answer Choices:

Unrelated

Normal-Inferior

Subtitutes

Sticky

Inferior

Between -infinity and 0

Complementary

1

0

Normal-Luxury

Normal

Normal-Necessity

Question 3

3.

Other Answer Choices:

3 and 4

6 and 7

1 and 2

2 and 3

4 and 5

5 and 6

Question 4

4.

Other Answer Choices:

Avg. Price of Good X

Change in Qd of Good X

Avg. Income

Percent Change in Qd of Good Y

Change in Qs of Good Y

Percent Change in Qd of Good X

Avg. Price of Good Y

Avg. Qd of Good Y

Change in Qd of Good Y

Avg. Qs of Good Y

Percent Change in Qs of Good Y

Avg. Qd of Good X

Change in Price of Good X

Change in Price of Good Y

Change in Qs of Good X

Avg. Qs of Good X

Percent Change in Income

Percent Change in Qs of Good X

Percent Change in Price of Good Y

Change in Income

Question 5

5.

Other Answer Choices:

Relatively price elastic

$90

increases

$40

Unitary price elastic

Perfectly price elastic

$18

$120

Perfectly price inelastic

remains unchanged

decreases

Relatively price inelastic