5. Suppose that the price elasticity of demand for maple syrup has been estimated at -4. If quantity demanded increased by 10 percent price must have changed by a) 2.5 percent lower b) 2.5 percent higher c) 10 percent lower d) 10 percent higher (2 mark) 2. Among all the combinations of goods attainable by a consumer, the one that least maximizes total utility is the one that a) equates not the marginal utilities per dollar of each good. b) maximizes the marginal utilities per dollar of each good. c) maximizes the marginal utilities per kilogram (or other physical unit) of each good, d) equates the marginal utilities per kilogram for other physical unit) of each good. (2 marks)