10. Dr. Ice can clone consumers. One of his first efforts was done on the population of Nuq, Alaska. Each original citizen got a clone who had exactly the same income and preferences. Which of the following statements describes what happened to the demand function for flannel shirts in Nuq?

Select one:

a. The elasticity did not change at any price.

b. none of the above.

c. The elasticity doubled and the slope remained constant.

d. The elasticity halved and the slope remained constant.

e. The elasticity of demand doubled and the slope doubled.

11. If the demand function for tickets to a basketball game is q= 5,500 - 55p, at what price will total revenue be maximized?

a. $25

b. none of the above.

c. $200

d. $100

e. $50

Question 12

The demand curve for haircuts is given by p= 80 - 6q, where p is the price and q is the quantity of haircuts. Suppose that the number of consumers in the economy doubles by creating a "clone" of each consumer. Each clone has the same demand curve as the original consumer. The demand curve for the doubled economy is described by

a. p= 80 - 12q.

b. p= 160 - 6q.

c. p= 40 - 3q.

d. p= 80 - 3q.

e. p= 160 - 12q.

Question 13.

The demand function for tennis shoes is described by the equation q(p) = 100 -p/4. The inverse demand function is described by the equation

Select one:

a. p(q) = 400 - 4q.

b. q(p) = 1/(100 -p/4).

c. q(p) = 100 - 4p.

d. p(q) = 100 -q/4.

e. p(q) = 1/100 -q/4.