08:34 Morning Wed, 12 Jan 0 A MIDTERM EXAM AEC'I 01 3000 4000 5000 6000 Fig. 1 1. With reference to Fig, 1, determine the price elasticity of demand if the price drops from P260 to P220. - 2.6 - 2'2 - 3.67 -4.33 None of these 2. With reference to Fig. 1, determine the price elasticity of demand if the price is increased from P100 to P145. - 0.45 None of these - 0.63 08:34 Morning Wed, 12 Jan 0 A MIDTERM EXAM AEC'I 01 3. With reference to Fig. 1, find the price elasticity of demand if the price is decreased from P280 to P200? - 7.0 None of these -i.67 - 2.33 - 5.0 4. With reference to Fig. 'l, and as continuation of problem 3, what happens to the revenue? None of these Revenue is decreased to P320000 Revenue is decreased by P320000 Revenue is increased by P320000 Revenue is increased to P320000 5. With reference to Fig. 1, what happens to the revenue if the price is increased from P280 to P300? Revenue is increased to P130000 Revenue is decreased by P130000 Revenue is increased by P1 30000 None of these Revenue is decreased to P1 30000