弹性检查您理解krugman wells 1问题u ch06.pptxVIP

Elasticity6CHECKYOURUNDERSTANDINGKrugman/Wells

CheckYourUnderstanding6-1

Questions1-3

1)Thepriceofstrawberriesfallsfrom$1.50to$1.00percartonandthequantitydemandedgoesfrom100,000to200,000cartons.Usingthemidpointmethod,thepriceelasticityofdemandis:01.7.0.6.67.40.

2)Atthepresentlevelofconsumption,4,000movietickets,andatthecurrentprice,$5perticket,thepriceelasticityofdemandformovieticketsis1.Usingthemidpointmethod,calculatethepercentagebywhichtheownersofmovietheatersmustreducepriceinordertosell5,000tickets.16%32%18%22%

3)Thepriceelasticityofdemandforice-creamsandwichesis1.2atthecurrentpriceof$0.50persandwichandthecurrentconsumptionlevelof100,000sandwiches.Calculatethechangeinthequantitydemandedwhenpricerisesby$0.05.quantitydemandedincreasesby12,000quantitydemandeddecreasesby12,000quantitydemandedincreasesby15,000quantitydemandeddecreasesby15,000UseEquations5-1and5-2tocalculatepercentchanges,andEquation5-3torelatepriceelasticityofdemandtothepercentchanges.

CheckYourUnderstanding6-2

Question1*Thepriceofstrawberriesfallsfrom$1.50to$1.00percartonandthequantitydemandedgoesfrom100,000to200,000cartons.Thepriceelasticityofdemandbetween$1.50and$1.00is1.7.

1a*)Thepriceofstrawberriesfallsfrom$1.50to$1.00percartonandthequantitydemandedgoesfrom100,000to200,000cartons.Atapriceof$1.50totalrevenueis______;at$1,totalrevenueis_____.$1.50;$1.00$150,000;$300,000$100,000;$200,000$150,000;$200,000

1b*)Thepriceofstrawberriesfallsfrom$1.50to$1.00percartonandthequantitydemandedgoesfrom100,000to200,000cartons.Thepriceelasticityofdemandinthispricerangeis1.7.Whendemandiselasticandpricedecreases,totalrevenue:increases.decreases.staysthesame.

CheckYourUnderstanding6-2

Question1Foreachcasethatfoll