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please help with these 10 questions. Thank you
2. If the price elasticity of demand is 10, then for every 1% Increase in price, there is a: 1% decrease in quantity demanded
sales of reels because the two goods are 3. If the cross elasticity of demand between fly rods and reels is -0.8, a decrease
4. Which of these would result in a higher price elasticity? O a good becoming a necessity O a longer time period O a shorter
7. A tax in which the percentage of income tax rises as income falls is known as a: O flat tax. O regressive tax. lump-sum ta
9. If the price of a product falls by 15% and the quantity supplied falls by 25%, the elasticity of supply is: O 10.00 O 0.10
12. The greater the percentage of the budget spent on a good, the: O greater is the inelasticity of demand. lower is the elas
13. The reason economists use the midpoint method to compute elasticity is that: It is the only viable way to measure total r
16. (Figure: Impact of Tax on Market Equilibrium) Based on the graph, Implementing a tax: Sotax le 100 120 O raises equilibri
2 to 4 and whose quantity demanded decreased from 10 units to sunt? 18. Using the midpoint method, what is the price elastici
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10, 21 If the price elasticity of demand is for every 1% incorare in price & loy dicsuare in quantity demanded - Ar/qx100 ep=

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