Deneme Sınavı Soruları

If the demand for automobiles drops 10% as a response to 50% increases in tire prices, this means that the cross price elasticity is ______ . Also it means that automobiles and tires ______ each other.

What is the second derivative of the function Y=8K³?

If X and Y are substitutes, what will be the shape of cross-demand curve for good Y when the price of X increases?

What is the change in the quantity demanded of a good in response to a change in its price, keeping the satisfaction level of the consumer constant?

Given that MUx = 50, Px = 10 and MUy = 100 respectively, what would be "Py" if the consumer is in equilibrium?

Change in the quantity demanded of a good in response to a change in the price in its price, keeping the satisfaction level of the consumer constant, is called the ................. effect.

Suppose we have a function of a function: y=f(w) and w=g(x). This means that y=f [g(x)] The derivative of y with respect to x will be
equal to; 

dy/dx= dy/dw * dw/dx

This rule is called as .............

Which below is not one of the four basic axioms about the consumer preferences?

Change in the quantity demanded of a good in response to a change in purchasing power, keeping relative prices constant, is called the
.......... effect.

Which below is an important property of indifference curves that stems from the axioms and assumptions of the consumer preference theory?

If the marginal rate of substitution between two goods is infinite, they are called perfect complements. Indifference curves are ....-shaped.

What is the marginal technical rate of substitution for q = K²L at K=2 and L=5?

What is the unit of measurement of utility when utility is assumed to be cardinal.

I. The evolutionary theory of the firm combines the behavioral theory with the Schumpterian idea
of innovation and suggests that firms try to be more profitable but they cannot maximize profit
because of the lack of perfect information and computational capability

II. Compatible with the perfect information assumption, it is explicitly recognized that firms have perfect information, and they are excluded from the learning and innovation processes. 

III. The evolutionary theory also assumes the satisficing behavior: firms adopt certain decision rules (“heuristics” or “routines”) to make decisions, and as long as they earn a satisfying level of profit, they do not search for new rules.

What can be said to be true about the evolutionary theory of the firm?

The inverse demand function for a firm’s product is p(q)=700000e^-0.002q where q is the daily demand and p is the price. What is production level that maximizes the daily revenue?

Which of the following constraint is faced by household?

I) Demand is ELASTIC if the percentage change in the quantity is greater than the percentage change in
price making the absolute value of the price elasticity greater than 1.

II) Demand is INELASTIC if the percentage change in the quantity is less than the percentage change in
price, making absolute value of the elasticity between 0 and 1

II) Demand is UNITARY ELASTIC if the percentage change in the quantity is equal to the percentage
change in price, making the absolute value of the price elasticity equal to 1.

Which of the following is true for elasticity of demand?

Which of the following is shown by a model?

A model is a simplification of reality or system showing cause and effect relation between variables under certain assumptions. Which of the items from the list below these simplifications may utilize?

1. Symbolic logic
2. Programming
3. Formal language
4. Informal diagrams
5. Theories

Which below is not an important property of indifference curves based on the axioms and assumptions of the consumer preference theory?