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. Jeans Production Rate of Output (jeans per day) 0 10 15 20 30 40 Total Cost $60.00 102.50 122.50 135.00 180.00 290.00 Based on the information in the table, if the firm can sell jeans for $7.00 per pair, the total profit from producing 40 pairs is