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ECOS2001 TUT01 Flashcards | StudBud

Explore/ECOS2001 TUT01

ECOS2001 TUT01

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Questions 7

Answers

1
Demand & Supply
neither a shortage nor a surplus
a surplus
a shortage
I have no idea
2
Elasticity is unit-less
True
False
3
Demand & Supply
The demand for Windows-based computers increases
The demand for Windows-based computers decreases
Will not affect the demand for Windows-based computer
4
Demand & Supply
I have no idea
have no effect on price
push the price up
push the price down
5
Consumer surplus
Consumer’s gain from trade is the absolute value of the consumer surplus
The consumer loses value from the trade.
The trade does not happen
The consumer gains no value from the trade
6
Consumer surplus
300
500
200
7
Elasticity
More inelastic
More elastic