ACCA BT Chapter 19 – Microeconomics – Questions
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Does a rightward shift in demand curve mean an increase in demand? If so, then doesn’t decrease in selling price increase demand?
Referring to question 2 by the way
Both the video Lectures and the notes are very helpful, Thank you
I GOT 100% .
May i know where can i see answer
Is the inelastic curve not supposed to be less steep that the elastic curve? Or maybe I didn’t understand the question
Sketch a PQ graph PQ graph with P vertical and Q horizontal. Draw two lines on it, sloping down to the right, at different slopes.
The less steep line says that a small change in price produces a large change in quantity. That is an elastic characteristic.
The steeper line shows that it takes a large change in price to produce a change in quantity, so that is an inelastic product.
So, the line for an inelastic product is steeper than for an elastic product.
Therefore the proposition in the question is FALSE.
please explain the concept of fall in product price when complimentary products rise
Not sure what you mean. However, an example of complimentary products are cars and petrol.
If the price of petrol falls, this can stimulate more people to buy cars as they can better afford to run them. Or, if the price of cars falls then more will be bought and also more petrol will be bought to run the cars.
Can you please explain what is subsidies for production?
These are payment to producers, usually from governments. Effectively, they lower the cost of production so that producers are encouraged to produce more.
100%
hard to get a pass rate especially in demand and supply curve.
please send me the procedure of question number 1
Hi. The change in demand is 10k-9k=1k; proportional is 1k/10k = 10%
Change in price is 25-20 = 5; proportional is 5/20=25%
Price elasticity of demand is proportional change in demand/proportional change in price => 10/25 = 0.4
Thanks a lot
Wooow I just passed everything im happy first time to get 100%…….yeeepy
I keep falling, and I think my answers are correct can you plz send me answers so I can review where I am wrong… I did everything as the lecturer explained. I wonder where I am wrong.
Isn’t the answer to the first question 0.5
Okay I got it 0.4
I got 100percent
Can you tell me your answers. I think I am doing it right but for some reason it’s not correct
The latest notes you have for this exam end with page 103
The notes end at page 140.
nowhere in the notes is the cost curve shift discussed
They are discussed on Page 133 of the current notes. Question 5 should refer to a shift in supply curves, not cost curves and this will soon be changed. Apologies for the error.
First and last questions not very clear
Not clear last question, many people have issues here
man the first question is wrong it is missing the word price
There is no other elasticity of demand you can calculate with this data or any other elasticity of demand that is in the syllabus or study guide, which states: 5. b) Explain elasticity of demand and the impact of substitute and complementary goods.
Can anyone give me the answer because I keep failed.
I think it’s OK.
Is it “cost curve” in the last qustion or maybe the supply curve is right?
Same here i did not understant the question, and I did not pass, any one can help please
See pages 132 and 133 in the notes where shifting of a cost curve to the right is explained.