Category: Supply and Demand

A. Status
B. Prestige
C. Utility
D. Self-esteem

A. Total utility is zero
B. An additional unit of consumption will decrease total utility
C. An additional unit of consumption will increase total utility
D. Total utility is maximized

A. ratio of the change in price to the change in quantity demanded.
B. ratio of the percentage change in quantity demanded to the percentage change in price.
C. ratio of the change in quantity demanded to the change in price.
D. ratio of the percentage change in price to the percentage change in quantity demanded.

A. perfect substitutes
B. complements
C. unrelated goods.
D. substitutes.

A. Pepsi’s advertising is not as effective as in the past .
B. The price of Coca Cola has increased,
C. Pepsi consumers had an increase in income.
D. The price of Pepsi increased

A. Economic profit
B. Accounting profit
C. Normal profit
D. supernormal profit

A. Reduces revenue
B. Leaves revenue unchanged
C. Increase revenue
D. Reduces costs

A. As the price of calculators rise, the quantity supplied of calculators decreases, ceteris paribus.
B. As the price of calculators calls the supply of calculators increases, ceteris paribus.
C. As the price of calculators rise, the quantity supplied of calculators increases, ceteris paribus.
D. As the price of calculators rise, the supply of calculators increases ceteris paribus.

A. incomes, tastes, and the price of other goods.
B. income, tastes, and the price of the good.
C. income and tastes
D. tastes and the price of other goods

A. elastic
B. perfectly elastic
C. unitarily elastic
D. inelastic.