7. If price falls along a segment of demand that is price inelastic, a. arrows representing the price and quantity effects both point down. b. an arrow representing the price effect points down and is longer than an arrow for the quantity effect. c. an arrow representing the price effect points down and is shorter than an arrow for the quantity effect. d. arrows representing the price and quantity effects both point up. 8. If price rises along a segment of demand that is price elastic, a. an arrow representing the quantity effect points down and is longer than an arrow for the price effect. b. an arrow representing the quantity effect points up and is longer than an arrow for the price effect. c. total revenue moves in the direction of the arrow for the price effect. d. the arrows for the price and quantity effects point in opposite directions and are of equal length. 9. Which of the following would NOT tend to make demand for a good X more elastic? a. A major competitor of good X goes out of business. b. Product X is improved so that it becomes more durable. c. Incomes fall, which increases the share of families' budgets spent on X. (1. both a and c