Quiz Practice

This quiz relates to the following lesson objectives:

• Measure the price elasticity of demand and supply
• Measure the cross-elasticity and income elasticity of demand
• Calculate changes in consumer and producer surplus
• Evaluate alternatives for fair and efficient allocation of scarce resources

Read the following before entering the Quiz Practice:

• There is no time limit for the Quiz Practice.
• Once you achieve an 80% or higher on this Quiz Practice you will be allowed to advance to this lesson's Quiz.
• If you do not pass this Quiz Practice with an 80% or higher within 5 tries, you will not be eligible to take the graded quiz and must move to the next lesson.
• If you lose your Internet connection while completing the Quiz Practice, log on again and reenter the Quiz Practice.

Submitting Your Quiz Practice:

• When you are finished with this Quiz Practice, click the Submit Quiz button.