Tackle the Test: Multiple-Choice Questions

  1. Question

    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
    If the cros
  2. Question

    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
    If Kylie buys 200 units of good X when her income is $20,000 and 300 units of good X when her income increases to $25,000, her income elasticity of demand, using the midpoint method, is
  3. Question

    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
    The income elasticity of demand for a normal good is
  4. Question

    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
    A perfectly elastic supply curve is
  5. Question

    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
    Which of the following leads to a more inelastic price elasticity of supply?