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India Quiz
A short quiz to accompany the following Twitter thread:
https://twitter.com/anthonyjevans/status/993918866186297349
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An Economist’s Passage to India�
Your team name
2 points
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A
B
C
D
E
F
Not applicable
1. How much revenue would Apple have missed out on if they’d have sold the same number of iPods but at the average market price? (give your answer to the nearest million)
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2 points
$35m
$58m
$59m
$94m
2. How much do you think I paid for In Rainbows?
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2 points
Your answer
3. If the bridge sets a price equal to their marginal cost, how much would they have to charge?
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2 points
Your answer
4. What is the implied price elasticity for tourists at Humayun's Tomb?
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2 points
Your answer
5. If the price for tourists rises by 25%, what happens to revenue?
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2 points
Falls by 2,750 rupees
Unchanged
Doubles
Rises by 60,000 rupees
6. If the price for locals rises by 25%, what happens to revenue?
*
2 points
Falls by 2,750 rupees
Unchanged
Doubles
Rises by $60,000 rupees
7. The impact of a price change on revenue is driven by the price ______?
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2 points
Your answer
8. What’s my suggestion for the visitor centre?
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2 points
Your answer
9. What’s the guide’s suggestion?
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2 points
Your answer
10. If bookings have fallen during a recession, what type of good are Virgin flights?
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2 points
Normal
Inferior
Complements
Substitutes
11. If BA cut their price and the demand for Virgin flights falls, what is the relationship between those goods?
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2 points
Complements
Substitutes
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