Home /ECO 561 Week 6 Quiz 100% Correct
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- Deprecated function: Optional parameter $indexes declared before required parameter $mapper_f is implicitly treated as a required parameter in include_once() (line 1442 of /home2/lpix3yg3/uoplabhelper.com/includes/bootstrap.inc).
- Deprecated function: Optional parameter $columns declared before required parameter $mapper_f is implicitly treated as a required parameter in include_once() (line 1442 of /home2/lpix3yg3/uoplabhelper.com/includes/bootstrap.inc).
- Deprecated function: Optional parameter $data declared before required parameter $qty is implicitly treated as a required parameter in include_once() (line 1442 of /home2/lpix3yg3/uoplabhelper.com/includes/bootstrap.inc).
- Deprecated function: Optional parameter $data declared before required parameter $qty is implicitly treated as a required parameter in include_once() (line 1442 of /home2/lpix3yg3/uoplabhelper.com/includes/bootstrap.inc).
- Deprecated function: Using ${var} in strings is deprecated, use {$var} instead in include_once() (line 1442 of /home2/lpix3yg3/uoplabhelper.com/includes/bootstrap.inc).
- Deprecated function: Optional parameter $indexes declared before required parameter $mapper_f is implicitly treated as a required parameter in include_once() (line 1442 of /home2/lpix3yg3/uoplabhelper.com/includes/bootstrap.inc).
- Deprecated function: Optional parameter $columns declared before required parameter $mapper_f is implicitly treated as a required parameter in include_once() (line 1442 of /home2/lpix3yg3/uoplabhelper.com/includes/bootstrap.inc).
- Deprecated function: Optional parameter $data declared before required parameter $qty is implicitly treated as a required parameter in include_once() (line 1442 of /home2/lpix3yg3/uoplabhelper.com/includes/bootstrap.inc).
- Deprecated function: Optional parameter $data declared before required parameter $qty is implicitly treated as a required parameter in include_once() (line 1442 of /home2/lpix3yg3/uoplabhelper.com/includes/bootstrap.inc).
- Deprecated function: Using ${var} in strings is deprecated, use {$var} instead in include_once() (line 1442 of /home2/lpix3yg3/uoplabhelper.com/includes/bootstrap.inc).
ECO 561 Week 6 Quiz 100% Correct
Description
1. If the demand curve is QD = 100 – 10P and there is a $1 price increase, then the elasticity of demand at P = 2 is
2. If the absolute value of a demand elasticity is less than 1, then
3. If the cross-price elasticity is negative, then the two goods are
4. Under perfect competition, a firm maximizes its profit by setting
5. In a large city, a good, real-world example for perfect competition would be
6. A firm under monopolistic competition will earn
