Here are the following questions. 8. The demand function for New Zealand kiwi fruit is Q- 50 -15P kiwi the fruit California fruit price/pound in cents, Al- cents, P fruit kiwi fruit advertising a. in thousands in millions of dollars, and Q quantity of of Q- curve for the P-50, P. 10 and 840-15P. NZklwiinits is: lb. Q. 50 -15P. Q- 120 -15P. d. Q -710 20 e, none of the above. 9. Given the inverse demand curve P 50- 01Q, the firm prices itself out of the market when: P $20. b, P $30. P $40. d. P $50. none of the above. 10. suppose that the quantity demanded of some candy bar is a function of the price/bar of the candy bar, P, the average price of all other candy bars, the candy bar size, and advertising, A. Q f(P, PA Z, A). The firm increases the bar size while none of the other explanatory variables change from their current levels. Therefore: a. this represents a move along the demand curve. b. this represents a shift of the entire demand curve. c at the new point on the demand curve, the price elasticity cannot be smaller than before. d. if the quantity demanded decreases, it means that the size elasticity of demand must be positive. none of the above. 11. A "change in demand" means: a change in the elasticity of demand curve. b, the shift of demand curve. a movement along a given demand schedule or curve. d. the quantity demanded changes as price changes. e. none of the above. 12. Facing the same demand function as in Question 10 Q f(PPAT,A). the firm changes the price per bar, it represents: a, a move along the demand curve. b, a shift of the entire demand curve e that at the new point on the demand curve, the price elasticity cannot be smaller than before. d. that if the quantity demanded decreases it means that the size elasticity of demand must be positive. e, none of the above.
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8. The
9. Given the inverse demand curve P 50- 01Q, the firm prices itself out of the market when: P $20. b, P $30. P $40. d. P $50. none of the above.
10. suppose that the quantity demanded of some candy bar is a function of the price/bar of the candy bar, P, the average price of all other candy bars, the candy bar size, and advertising, A. Q f(P, PA Z, A). The firm increases the bar size while none of the other explanatory variables change from their current levels. Therefore: a. this represents a move along the demand curve. b. this represents a shift of the entire demand curve. c at the new point on the demand curve, the price elasticity cannot be smaller than before. d. if the quantity demanded decreases, it means that the size
11. A "change in demand" means: a change in the elasticity of demand curve. b, the shift of demand curve. a movement along a given demand schedule or curve. d. the quantity demanded changes as price changes. e. none of the above.
12. Facing the same demand function as in Question 10 Q f(PPAT,A). the firm changes the price per bar, it represents: a, a move along the demand curve. b, a shift of the entire demand curve e that at the new point on the demand curve, the price elasticity cannot be smaller than before. d. that if the quantity demanded decreases it means that the size elasticity of demand must be positive. e, none of the above.
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