Chapter 5 Test(课堂用-答案版).docxVIP

 PAGE \* MERGEFORMAT 7 Chapter 5 Elasticity and its Application MULTIPLE CHOICE 1. When the price of an eBook is $15.00, the quantity demanded is 400 eBooks per day. When the price falls to $10.00, the quantity demanded increases to 700. Given this information and using the midpoint method, we know that the demand for eBooks is a.inelastic.b.elastic.c.unit elastic.d.perfectly inelastic.ANS: B 2. Studies indicate that the price elasticity of demand for beer is about 0.9. A government policy aimed at reducing beer consumption changed the price of a case of beer from $10 t