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Table 5-1
Good Price elasticity of demand
A 1.9
B 0.8
Refer to Table 5-1. Which of the following is consistent with the elasticities given in Table 5-1?
A is a luxury and B is a necessity.
A is a good after an increase in income and B is that same good after a decrease in income.
A has fewer substitutes than B.
A is a good immediately after a price increase and B is that same good 3 years after the price increase.
Refer to Figure 4-18. At the equilibrium price,
400 units would be supplied and demanded.
600 units would be supplied, but only 200 would be demanded.
600 units would be supplied and demanded.
200 units would be supplied and demanded.
Refer to Figure 4-26. Which of the following movements would illustrate the effect in the market for orange juice of an announcement by the American Dental Association that orange juice erodes tooth enamel?
Point C to Point D
Point A to Point D
Point D to Point A
Point A to Point B
Refer to Figure 14-12.1. If these are the only two sellers in the market, then the market quantity supplied at a price of $2 is
a. 2 units.
b. 20 units.
c. 4 units.
d. 8 units.

Table 51 Good Price elasticity of demand A 19 B 08 Refer to Table 51 Which of the following is consistent with the elasticities given in Table 51 A is a luxury class=
Table 51 Good Price elasticity of demand A 19 B 08 Refer to Table 51 Which of the following is consistent with the elasticities given in Table 51 A is a luxury class=
Table 51 Good Price elasticity of demand A 19 B 08 Refer to Table 51 Which of the following is consistent with the elasticities given in Table 51 A is a luxury class=
Table 51 Good Price elasticity of demand A 19 B 08 Refer to Table 51 Which of the following is consistent with the elasticities given in Table 51 A is a luxury class=

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