The figure shows the demand curve for yogurt. The price elasticity of demand when the price of a carton of yogurt increases from 30 pence to 50 pence is ______.

1/2
2
1
0

The figure illustrates Anne's demand for books. Over what price range is Anne's demand for books elastic?

At £15 a book
All prices between £15 and £30 a book
All prices below £30 a book
All prices above £10 a book

Orange juice has more close substitutes than do fruit juices. The price elasticity of demand for orange juice is _______ the price elasticity of demand for fruit juices.

a lot less than
the same as
less than
greater than

The figure illustrates the demand for eggs. At what price will egg sellers maximize their total revenue?

less than £0.75 a dozen
£1.50 a dozen
£0.75 a dozen
above £0.75 a dozen

The price elasticity of demand for videos is 4. If the price of a video increased by 2 percent, the quantity demanded will _____________.

decrease by 8 percent
decrease by 2 percent
increase by 8 percent
decrease by 0.5 percent

Sara's Strawberry Market maximizes its total revenue by selling strawberries for £1.25 a basket. At a price of £1.25, you predict that ______________________.

the demand for strawberries is inelastic
the demand for strawberries is unit elastic
the demand for strawberries is elastic
Sara's sells all the strawberries that it grows

Muffins and coffee are complements. When the price of a muffin increases, the demand for coffee __________ and the cross elasticity of demand for coffee with respect to the price of a muffin is _____________.

increases; negative
decreases; negative
decreases; positive
increases; positive

If a 15 percent increase in income, when the price remains constant, increases the quantity of airline tickets demanded by 60 percent, then the income elasticity of demand of airline tickets is _________.

0
4.00
0.25
negative

The figure shows the relationship between Moira's income and the quantity of macroni that she demands. When her income is less than £350 a month, macaroni __________________.

has negative income elasticity
is a normal good
is an inferior good
has many substitutes

The table gives some data on the supply of roses in a small town. When the price rises from £15 a dozen to £25 a dozen, the elasticity of supply is _____________.

0.80
1.25
0.20
5.00

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