需求弹性练习题

1 How will the following changes in price affect total-revenue that is，will total revenue increase, decline, or remain unchanged?

i.Price falls and demand is inelastic．

ii.Price rises and demand is elastic．

iii.Price rises and demand is inelastic．

iv.Price falls and demand is elastic.

v.Price falls and demand is of unit elasticity.

2 Determine the elasticity of demand and supply for the following demand and supply schedules．Use the total-revenue test to check the answers given by the Ed formula．

3 What are the major determinants of elasticity of demand? Use these determinants in judging whether the demand for the following products is elastic or inelastic:

i.oranges;

ii.cigarettes;

iii.Winston cigarettes

iv.gasoline;

v.butter;

vi.salt;

vii.automobiles;

viii.football games;

ix.diamond bracelets;

x.Textbook.

4. Empirical estimates suggest the following demand elasticties:

i.0.6 for physicians' services;

ii. 4.0 for foreign travel;

iii. 1.2 for radio and television receivers.

Use the generalizations for the determinants of elasticity developed in this chapter to explain each of these figures.

5 Suppose you are sponsoring an outdoor rock concert. Your major costs-for the band, land rent, and security-are largely independent of attendance. Use the concept of elasticity of demand to explain how you might go about establishing ticket prices in order to maximize profits.

6 "If the demand for farm products is highly inelastic, a bumper crop may reduce farm incomes." Evaluate and illustrate graphically.

Price Elasticity of Demand

假设对汽油的需求价格弹性在短期为0.2，在长期为0.7。如果汽油价格上升28％，这对需求量在短期有什么影响？在长期有什么影响？

Price Elasticity of Supply

设想对一位农场主而言，玉米供给的短期价格弹性为0.2，而长期价格弹性为2。如果玉米价格下降30%，供给量的短期变化和长期变一化分别是多少？如果价格上升15％，供给量的短期变化和长期变化又分别是多少？在每一种情况下，这位农场主的收人会发生什么变化？