ECONOMICS 2302 Topic 6 Elasticity Videos

Topic 6 - Elasticity Videos1


1. Which example was used in this video?
 An increase in the price of a car
2. Which example was used in this video?
 A decrease in the price pf pizza
3. Which prices were used to calculate the midpoint elasticity of demand in this video?
 $4 and $6
4. Which of these goods had elastic demand in the video?
 Oranges
5. Which of the following statements is true of a linear demand curve, according to the
video?
 When going from high prices to low prices, demand becomes more inelastic
6. What did the total revenue curve look like in the video?
 a curve that looks like an upside-down U
7. Which of the following products was more elastic than the other good in the "Which is
More Elastic" game?
 Spaghetti sauce
8. Which of the following statements is true, according to the video?
 The more time passes, the more elastic the demand for a good becomes
9. In the video, the cross-price elasticity of demand between Coke and Pepsi was:
 Positive and greater than 1
10. Which example was used to calculate the cross-price elasticity of demand between
complements?
 Hot dogs and hot dog buns
11. Which good was used to explore the income elasticity of demand?
 Clothing
12. Which example was used in this video?
 an increase in the price of pizza
13. Which of the following goods had elastic supply in the video?
 t-shirts
14. According to the video, what does the supply curve look like in the immediate time
period?
 It is a vertical line




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