麦圭根《管理经济学》英文版题库Chapter3DemandAnalysisWord格式.docx
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麦圭根《管理经济学》英文版题库Chapter3DemandAnalysisWord格式.docx
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a
POINTS:
1
DIFFICULTY:
Easy
QUESTION
TYPE:
HAS
VARIABLES:
False
NATIONAL
STANDARDS:
UnitedStates-BPROG:
Analytic
TOPICS:
ThePriceElasticityofDemand
KEYWORDS:
Knowledge
DATE
CREATED:
6/21/20168:
43AM
MODIFIED:
2.
Ifdemandwereinelastic,thenweshouldimmediately:
cuttheprice.
keepthepricewhereitis.
gototheNobelPrizeCommitteetoshowwewerethefirsttofindanupwardslopingdemandcurve.
stopsellingitsinceitisinelastic.
raisetheprice.
e
Moderate
Comprehension
3.
Inthisproblem,demonstrateyourknowledgeofpercentageratesofchangeofanentiredemandfunction(HINT:
%ΔQ=EP•%ΔP+EY•%ΔY).
YouhavefoundthatthepriceelasticityofmotorcontroldevicesatAllen-BradleyCorporationis-2,andthattheincomeelasticityisa+1.5.
Youhavebeenaskedtopredictsalesofthesedevicesforoneyearintothefuture.
EconomistsfromtheConferenceBoardpredictthatincomewillberising3%overthenextyear,andAB’smanagementisplanningtoraiseprices2%.
YouexpectthatthenumberofABmotorcontroldevicessoldinoneyearwill:
fall.5%.
notchange.
rise1%r.
rise2%.
rise.5%.
Challenging
ReflectiveThinking-BPROG:
Analysis
CrossElasticityofDemand
BLOOMS:
Application
4.
Alineardemandforlakefrontcabinsonanearbylakeisestimatedtobe:
QD=900,000-2P.
WhatisthepointpriceelasticityforlakefrontcabinsatapriceofP=$300,000?
[HINT:
Ep=(∂Q/∂P)(P/Q)]
EP=-3.0
EP=-2.0
EP=-1.0
EP=-0.5
EP=0
b
BLOOM’S:
Comprehension
5.
Propertytaxesaretheproductofthetaxrate(T)andtheassessedvalue(V).
Thetotalpropertytaxcollectedinyourcity(P)is:
P=T•V.
Ifthevalueofpropertiesrise4%andifMayorandCityCouncilreducesthepropertythetaxrateby2%,whathappenstothetotalamountofpropertytaxcollected?
[HINT:
thepercentagerateofchangeofaproductisapproximatelythesumofthepercentageratesofchange.}
Itrises6%.
Itrises4%.
Itrises3%.
Itrises2%
Iffalls2%.
d
6.
DemandisgivenbyQD=620-10·
PandsupplyisgivenbyQS=100+3·
P.
Whatisthepriceandquantitywhenthemarketisinequilibrium?
Thepricewillbe$30andthequantitywillbe132units.
Thepricewillbe$11andthequantitywillbe122units.
Thepricewillbe$40andthequantitywillbe220units.
Thepricewillbe$35andthequantitywillbe137units
Thepricewillbe$10andthequantitywillbe420units.
c
BPROG:
7.
WhichofthefollowingwouldtendtomakedemandINELASTIC?
theamountoftimeanalyzedisquitelong
therearelotsofsubstitutesavailable
theproductishighlydurable
theproportionofthebudgetspentontheitemisverysmall
noonereallywantstheproductatall
Knowledge
8.
Whichofthefollowingbestrepresentsmanagement'
sobjective(s)inutilizingdemandanalysis?
itprovidesinsightsnecessaryfortheeffectivemanipulationofdemand
ithelpstomeasuretheefficiencyoftheuseofcompanyresources
itaidsintheforecastingofsalesandrevenues
aandb
aandc
TheIncomeElasticityofDemand
7/23/20163:
14PM
9.
Identifythereasonswhythequantitydemandedofaproductincreasesasthepriceofthatproductdecreases.
asthepricedeclines,therealincomeoftheconsumerincreases
asthepriceofproductAdeclines,itmakesitmoreattractivethanproductB
asthepricedeclines,theconsumerwillalwaysdemandmoreoneachsuccessivepricereduction
DemandRelationships
15PM
10.
Anincreaseinthequantitydemandedcouldbecausedby:
anincreaseinthepriceofsubstitutegoods
adecreaseinthepriceofcomplementarygoods
anincreaseinconsumerincomelevels
alloftheabove
noneoftheabove
11.
Goodshavinganegativecalculatedincomeelasticityare...
superiorgoods
producers'
goods
nondurablegoods
inferiorgoods
7/20/201612:
21PM
12.
IfthecrosspriceelasticitymeasuredbetweenitemsAandBispositive,thetwoproductsarereferredtoas:
complements
substitutes
inelasticascomparedtoeachother
bothbandc
a,b,andc
17PM
13.
Whendemandis____apercentagechangein____isexactlyoffsetbythesamepercentagechangein____demanded,thenetresultbeingaconstanttotalconsumerexpenditure.
elastic;
price;
quantity
unitelastic;
inelastic;
quantity;
price
14.
Marginalrevenue(MR)is____whentotalrevenueismaximized.
greaterthanone
equaltoone
lessthanzero
equaltozero
equaltominusone
15.
Thefactor(s)whichcause(s)amovementalongthedemandcurveinclude(s):
increaseinlevelofadvertisin
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