# economics multiple choice questions help

Jan 18th, 2016
DreamIt
Category:
Economics
Price: \$5 USD

Question description

The change in total utility resulting from a unit change in consumption of a good is called?

a.diminishing

b. marginal utility

c. marginal value utility

d. absolute utility

2.If the price of a physician's visit is \$75, and a individual A purchases 10 visits, individual B purchase 12 visits, individual C purchases 14 visits, and individual D purchases 0 visits, what is the market demand for physician visits?

a.12 visits

b.26 visits

c. 40 visits

d. 9 visits

e. 36 visits

3.Assume that Dr. X charges \$30 for a test and that ast week he preformed 120 tests. This week, he raised his charges to 32,50 for that test and ony provided 110 tests, What is the approximate of demand?

a. -1.4

b. -3.7

c. -2.3

d.-1.1

e. -0.9

4. A food supplement store sold a vitamin for \$2.00 a bottle and in one month sold 2,000 bottles. After a price increase, the vitamin sold for \$2.20 a bottle and the store sold 1900 bottles next month. What is the elasticity of demand?

a. -0.283

b. -0.538

c. -0.176

d. -0.715

e.-0.934

(Top Tutor) Daniel C.
(997)
School: UIUC

Studypool has helped 1,244,100 students

## Review from our student for this Answer

SoccerBoss
Jan 18th, 2016
"Thank you, Thank you, for top quality work, this is your guy!!"

1824 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors