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CAIE-Alevel-经济学-AS分类练习+解析

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CAIE-Alevel-经济学-AS分类练习+解析

CAIE-Alevel-经济学-AS分类练习+解析

练习和解析 (选择题 – 易): Price Elasticity of Supply

1.

What is the best description of the meaning of price elasticity of supply?

how much demand changes when there is a change in supply

how much price changes when there has been a change in supply

how much supply changes when there is a change in price

how much supply changes when there is a change in the price of a complementary good

2.

An increase in the demand for air conditioning units led to a 20% increase in their price. The quantity supplied of air conditioning units increased by 30%. What can we infer from this scenario?

The price elasticity of supply is zero.

The price elasticity of supply is less than 1.

The price elasticity of supply is equal to 1.

The price elasticity of supply is greater than 1.

3.

When the demand for shoes rises and causes an increase in their price, why does Firm Y increase its supply faster than Firm Z?

Firm Y has limited stocks of unsold shoes whereas firm Z has plentiful stocks of unsold shoes.

Firm Y has spare capacity in its factories whereas firm Z's factories are working at full capacity.

Firm Y produces shoes manually while firm Z uses automated production processes.

Firm Y's raw material suppliers have limited supplies whereas Firm Z's raw material suppliers have plenty of supplies.

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练习和解析 (选择题 – 易): Price elasticity, income elasticity and cross elasticity of demand

练习和解析 (选择题 – 易): Interaction of Demand and Supply

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