快速查题-ACCA英国注册会计师试题

What is an inferior good?

Consider the price and demand for tickets to travel by sea ferry. The price of travelling by hovercraft (a substitute form of travel) goes up. Which of the following would you expect to happen?

The summer demand for hotel accommodation in London comes mainly from foreign tourists. Demand for hotel rooms in London in summer could be reduced by a fall in the price or value of which of the following?

1 US dollars

2 Aeroplane tickets

3 Sterling

ABC produces a variety of soft drink. It has two competitors but all three producers use product differentiation to distinguish themselves from each other. What type of market is this?

Suppose that, in a certain advanced industrialised country, the government has applied price controls over rents of both public and private rented accommodation for a number of years, and a serious problem of widespread homelessness has built up.

Just recently, the rent price controls have been eased. Which of the following consequences should now occur?

1 An increase in homelessness

2 In the longer term, an increase in new building work

3 The provision of more rented accommodation

4 Fewer owner-occupied dwellings

The demand curve for a resource may shift because of

The income elasticity of demand for a product is high. This means that

Using the point method, what is the price elasticity of demand of product X as price falls from its current price of $20 to $15?

                                         Old                            New

Price                                  20                             15

Quantity                            10                              15

Consumer surplus is：

Which combination of demand and supply curves would be appropriate for a firm attempting to increase its profits by increasing its market share?