Other Economics Answers

Demand Curve for Watermelon:

Use the link below for demand schedule and plot it on graph

Link:

https://drive.google.com/file/d/1nt1Skwc60LsnbKuGkR2JMQBy5qQOceEl/view?usp=drivesdk

Plotting Elasticity of Demand:

Use the link below for demand schedule and plot it on a graph

Link: https://drive.google.com/file/d/19TDDS4w2pRi8SfpA07MxhKywtdrynU_C/view?usp=drivesdk

Demand Review: (pick one)

34) An increase in price of Flip Video Camcorders will (increase/decrease) (D/QD).

35) A decrease in taste for iPhones will cause an (increase/decrease) in (D/QD)

Demand Review: (pick one)

31) A decrease in price of coke will cause an (increase/decrease) in (D/QD) for Pepsi.

32) An increase in QD for iPiggy iWiggys suggest (increase in taste/decrease in price/ increase in income).

Demand Review: (pick one)

29) A decrease in price of IFuzzy iWuzzys will result in a (decrease/increase) in (D/QD).

30) A decrease in income will cause an (increase/decrease) in (D/QD) for spam.

Demand Review: (pick one)

27) If there are adequate substitutes for a product, it is (elastic/inelastic).

28) If there purchase takes only a small portion of income, it is probably (elastic/inelastic).

Demand Review:

Put “I” for inelastic demand or “E” for elastic demand for following products.

____ insulin

____ butter

____ new Honda Accord

____ Dell computers

____ table salt

Demand Review: (pick one)

25) If a purchase for a product can be delayed, it is (elastic/inelastic).

Demand Review: (pick one)

23) Total revenue (increase/decrease) if an elastic products price decreases.

24) Total revenue (increase/decrease) if an inelastic products price decreases.

Demand Review: (pick one)

21) An (elastic/inelastic) product has a flatter demand curve.

22) An (elastic/inelastic) product has steeper demand curve.