Elasticity Quizzes Online & Trivia

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  • What are the determinants of YED?
    What are the determinants of YED?
    YED is written in Java which is a computer programming language, but YED is a diagramming program that is intended to be used generally. Just like it says, this diagramming program allows the users to draw diagrams on the computers. These diagrams could include charts, mind maps, and flowcharts, to name a few. It was developed by yWorks GmbH and was released recently on January 1, 2018. It uses an operating system called cross platform. There are determinants of YED. These include necessity versus luxury, availability of substitutes, time horizon, relative size of purchase and closeness of substitutes. The best way to determine if you should use YED is to see if it is easy to use. If you find that it is, you may consider using YED.

  • Where (at what mark) should a third mass of 0.30 kg be hung to keep the stick in balance? A uniform meter stick is supported by a knife edge at the 50-cm mark and has masses of 0.40 kg and...
    Where (at what mark) should a third mass of 0.30 kg be hung to keep the stick in balance? A uniform meter stick is supported by a knife edge at the 50-cm mark and has masses of 0.40 kg and...
    The correct answer is 30 cm. Solution:- This question is based on torque. Torque = (distance from the pivot point) x (mass) For balancing, we need the torques to be equal on both sides of the ruler. First weight for the torque is 0.40kg and at the 20 cm mark, which is 30 cm from the pivot point (50cm mark). So, by the formula, torque is equal to 30(0.40) = 12 The second wight for the other torque is 0.60 kg at the 80 cm mark, also 30 cm from the pivot point Calculated torque is 30 (0.60) = 18 Now, we need to balance the torque with a weight of 0.30kg It will need to go on the side of the 20 cm mark because we need balance to it. We know the weight but not the distance, so let the distance is 'x', then the torque will be x (0.30) This gives the equation, 12 + x (.30) = 18 0.3x = 6 x = 20 It needs to be 20 cm from the pivot point towards the 20 cm end which puts it at the 30 cm mark (50-20).

  • What can we, therefore, assume about this price range supply? The price of shares in company fall from $4.20 to $3.99 causing sellers to offer 4% more shares for sale than in the previous...
    What can we, therefore, assume about this price range supply? The price of shares in company fall from $4.20 to $3.99 causing sellers to offer 4% more shares for sale than in the previous...
    Can't we say elastic with coefficient =1/coefficient of inelasticity ??

  • What does income elasticity tend to be with basic food items like bread and milk?
    What does income elasticity tend to be with basic food items like bread and milk?
    For basic food items such as bread and milk, income elasticity tends to be close to zero. Income elasticity is a term that is used very commonly in economics. It is a measure of the responsiveness of a demanded quantity of a product in comparison to the income change of the people who have a demand for that product. The relation that is used for the calculation of income elasticity is ‘percentage difference in the demanded quantity upon the percentage difference in the income’. Using this concept, one can easily determine whether a particular asset or a good is the representation of a luxury or a need.

  • What will hapeen if supply is perfectly inelastic and demand decreases?
    What will hapeen if supply is perfectly inelastic and demand decreases?
    Price will fall and quantity remain the same

  • What must be the absolute value of the XED if the price of milk changes by 20 cents and I buy 2000 Euros worth more of Oreos?
    What must be the absolute value of the XED if the price of milk changes by 20 cents and I buy 2000 Euros worth more of Oreos?
    Very high

  • What would be the minimum tension of a wire to break if its diameter were half as great? A copper wire is found to break when subjected to minimum tension of 36 N.
    What would be the minimum tension of a wire to break if its diameter were half as great? A copper wire is found to break when subjected to minimum tension of 36 N.
    9.0 N.

  • What is income elasticity here? Austudy raises student allowances from $150 to $165 per week.  This leads to an average increase from 8 to 10 coffees consumed per week from a sample of...
    What is income elasticity here? Austudy raises student allowances from $150 to $165 per week.  This leads to an average increase from 8 to 10 coffees consumed per week from a sample of...
    Elastic with a coefficient of 2.5

  • How far from the right scale is the person's center of gravity located? Two scales are separated by 2.00 m, and a plank of mass 4.00 kg is placed between them. Each scale is observed to read...
    How far from the right scale is the person's center of gravity located? Two scales are separated by 2.00 m, and a plank of mass 4.00 kg is placed between them. Each scale is observed to read...
    1.26 m

  • Which of the following option is true about coefficient for price elasticity?
    Which of the following option is true about coefficient for price elasticity?
    Vary at each point along a demand curve

  • What is the formula for income elasticity?
    What is the formula for income elasticity?
    %change in demand for good one/ %change in price for good two

  • Which of the following statements about price elasticity of supply is valid?(a) the degree of supply elasticity is dependent upon the extent to which the commodity is considered a luxury or a...
    Which of the following statements about price elasticity of supply is valid?(a) the degree of supply elasticity is dependent upon the extent to which the commodity is considered a luxury or a...
    The degree of supply elasticity is dependent upon the extent to which the commodity is considered a luxury or a necessity

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