Answer the following two questions below

Say the demand for a pizza is very elastic at the current price. If the price increases by 1%. what does it being elastic tell us? A) The change in the quantity demanded is greater than the change in income. B) Buyers are not very sensitive to a change in price. O C) The percentage change in quantity demanded is greater than the percentage change in price. O D) The percentage change in price is greater than the percentage change in quantity demanded. Hide hint for Question 21 Is elasticity about how price influences how much quantity demand changes or about how much quantity demand changes influences the price? Question 22 (0.35 points) )Listen Regarding the output of a production process, the law of diminishing returns states that beyond some point the O A) Total output produced from a factor of production diminishes as more of it is employed with a given quantity of other inputs. O B) Output of any good increases as more of a variable input is used. O C) Marginal physical product (MPP) of a factor of production diminishes as more of it is employed with a given quantity of other inputs. ( D) Returns on stocks and bonds diminish with higher security prices