Micro 2.3, 2.4, 2.5 Quiz: PED, PES, Income and Cross Price D - Michael Burbine | Library

2

Other Answer Choices:

Normal

Normal-Inferior

Inferior

Between -infinity and 0

Normal-Necessity

Subtitutes

Sticky

Normal-Luxury

Complementary

0

1

Unrelated

1

Other Answer Choices:

5 and 6

2 and 3

4 and 5

3 and 4

1 and 2

6 and 7

1

5

Other Answer Choices:

Unitary price elastic

$40

$90

$18

increases

remains unchanged

$120

Perfectly price elastic

$102

Relatively price elastic

decreases

Perfectly price inelastic

Relatively price inelastic

6

Other Answer Choices:

Avg. Price of Good X

Change in Qs of Good X

Percent Change in Qs of Good Y

Change in Qs of Good Y

Percent Change in Income

Change in Income

Avg. Qs of Good X

Change in Price of Good Y

Avg. Price of Good Y

Change in Qd of Good X

Percent Change in Qd of Good Y

Avg. Income

Percent Change in Price of Good Y

Change in Qd of Good Y

Avg. Qs of Good Y

Percent Change in Price of Good X

Avg. Qd of Good Y

Avg. Qd of Good X

Change in Price of Good X

Percent Change in Qs of Good X

Percent Change in Qd of Good X