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Quiz 3 :

Demand and Supply

Quiz 3 :

Demand and Supply

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The price of a DVD rental is $1.50 and the price of a downloaded movie is $1.00. If the price of a DVD rental increases by $0.50, the relative price a downloaded movie
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B

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If the money price of hats rises and no other prices change, the I. relative price of a hat rises. II) opportunity cost of a hat rises.
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B

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An ice cream cone costs $1.50. A can of soda costs $0.75. The relative price of an ice cream cone is
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C

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The opportunity cost of a hot dog in terms of hamburgers is the
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Suppose the price of a football is $20.00 and the price of a basketball is $10.00. The ________ of a football is ________.
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The opportunity cost of good A in terms of good B is equal to the
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Wants, as opposed to demands
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If the price of a hot dog is $2 and the price of a hamburger is $4, then the
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If the money price of wheat increases and no other prices change, the
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Twenty years ago a stove cost $300 and a refrigerator cost $1,500. Today a stove costs $600, while a refrigerator costs $1,800. Which of the following statements is TRUE?
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The opportunity cost of a good is the same as its
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Joe pays $8,000.00 in tuition. The 8,000 dollar tuition Joe pays is an example of what economists call
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A relative price is the
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The price of a bag of corn chips is $3, and the price of a bottle of soda is $1. What is the relative price of a bag of corn chips?
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If the price of a candy bar is $1 and the price of a fast food meal is $5, then the
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The relative price of a good is
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The price of a DVD rental is $2.50 and the price of a downloaded movie is $1.00. If the price of a DVD rental falls by $0.50, the relative price a downloaded movie
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The money price of a pizza is $12 per pizza and the money price of a taco is $2 per taco. The relative price of a pizza is
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The price of a bag of corn chips is $3, and the price of a bottle of soda is $1. What is the relative price of a bottle of soda?
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A relative price is
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