【ACCA选择题】
第一题:If the absolute value of the price elasticity of demand for dry white wine is greater than one,a decrease in the price of all wine would result in:
A A more than proportional decrease in the quantity of dry white wine purchased
B A less than proportional decrease in the quantity of dry white wine purchased
C A less than proportional increase in the quantity of dry white wine purchased
D A more than proportional increase in the quantity of dry white wine purchased(2 marks)
第二题:Mr Smith has a limited income which restricts the number of different goods he can buy.Which one of the following best describes the position at which Mr Smith's utility from purchasing different goods is maximised?
A Marginal utility from each good is equal
B Marginal utility from each good is 0
C Ratio of marginal utility to price is equal for each good
第一题:A
Rationale:Consumer surplus is the excess between what consumers are prepared to pay for a good or service and the prevailing market price they have to pay to purchase it.
第二题:B
Rationale:To increase market share requires greater quantities of the firm's products to be both demanded and supplied.To sell more,a firm needs to lower price.For this to be profitable,demand must be elastic.To produce more,supply must also be elastic.