33.It costs $30 for a movie and $25 for a meal. I get 15 utils of satisfaction from the movie and 10 utils of satisfaction from the meal. Which one should I choose? SHOW WORK

1. Describe inelastic demand and how it relates to revenue if price is increased.
2. Describe elastic demand and how it relates to revenue if price is increased.
3. If the elasticity of demand is .6 and price increases by 9%, how much and in which direction will quantity demanded change?
4. What factors affect the elasticity of demand for a good?
5. Describe cross-price elasticity of demand, income elasticity, and supply elasticity.
6. How is elasticity of supply different in the short run and long run?
7. If elasticity of demand is 1.4 and elasticity of supply is .8 and supply decreases by 9%, what will be the percentage change in price and the direction of the price change?
8. Graph the following 2 points on a demand curve and compute the elasticity of demand: P = $12 and Qd = 5; P = $11 and Qd = 16.If price increases by 15%, what happens to Qd?
9. What part of the demand curve is more elastic and what part is more inelastic.
10. Draw and describe consumer and producer surplus