1.The Law of Demand states that quantity demanded increases in a given time period if:

Multiple Choice

• The price of the good falls.
• Incomes increase.
• Preferences change.
• Expectations improve.

2.Price elasticity of demand shows how:

Multiple Choice

• To compute the slope of the demand curve.
• Quantity demanded responds to price changes.
• Quantity demanded responds to changes in the price of other goods.
• Price responds to demand changes.

3.Suppose a university raises its tuition by 8 percent and as a result the enrollment of students drops by 4 percent. The price elasticity of demand for this circumstance would be:

Multiple Choice

• 8.0.
• 4.0.
• 2.0.
• 0.5.

4.Table is attached below

eztomheducatiomcom Week 7: Quiz 0 Save\" Help Save 5 Exlt Submit 4 Jeans Production Total Cost $60.00 102. 50 122.50 135.00 180.00 290.00 Based on the information in the table, if the rm can selljeans for $7.00 per pair, the total prot from producing 40 pairs is Multlple Choice (:) $w. O $10.