Jeopardy That’s a Gimme Ups and Downs Back and Forth That’s a Stretch I Like Structure Q $100 Q...
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Transcript of Jeopardy That’s a Gimme Ups and Downs Back and Forth That’s a Stretch I Like Structure Q $100 Q...
JeopardyThat’s aGimme
Ups and Downs
Back and
ForthThat’s aStretch
I LikeStructure
Q $100
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Final Jeopardy
$500
An increase in the price of a product and a decrease in quantity demanded for that product has this effect on the demand curve.
$200
This explains that people purchasemore of a product when the price goes down because they feelbetter off.
$400
The price for Colgate toothpaste increases causing this effecton the demand curve for Crest toothpaste. .
$500
A storm is predicted to dump 12inches of snow overnight. Asudden increase in the demandfor milk, eggs and bread is explained by a change in this.
$100
This model represents the quantities demanded by everyone who is interested in purchasing a product at each and every price.
$200
A decrease in the price of Charmin toilet tissue that causes Northern toilet tissueconsumers to switch to Charmin is explained by this.
$400
Congress passes legislation to suspend the gas tax startingtomorrow. Consumer expectations causes thisimmediate effect.
$500
The government raises the Social Security tax causingdemand for all goods andservices to drop. What factorcauses this to happen?
$200
If a particular product has a change in price, say 10%,that causes a relatively larger change in quantity demanded, say 15%, it is said to be this:
$300
When a change in the price ofa product does not change thetotal revenues for that product, it is said to be this:
$400
A hamburger stand raised theprice of hamburgers from $2.00 to $2.50 and sales fellfrom 200 to 180 per day. UsingThe revenue method are thesehamburgers demand elasticor inelastic