Assume D1 represents the current demand curve for skis. Which of the following would most likely cause D1 to shift to D2? A A decrease in the price snowboards 0 An increase in the price of snowboards A An increase in the price of skis O A decrease in the price of skis Let EdGi refer to the income elasticity for gasoline. Suppose EdGi = 2; then this means that if income O decreases by 2 percent, Qdo will decrease by 1 percent. O decreases by 1 percent, Qdo will decrease by 2 percent. O increases by 2 percent, Qdc will increase by 1 percent. O increases by $1, Qdc will decrease by 2 percent."Inelastic demand" means that quantity demanded is not very sensitive to price. price is not very sensitive to quantity demanded. quantity demanded is very sensitive to price. price is very sensitive to quantity demanded. The price elasticity of demand for product t is 5 (in absolute value). This means that if th increases by 5 percent, Pt will decrease by 1 percent. Pt decreases by $1, th will decrease by 5 units. Pt increases by 1 percent, th will decrease by 5 percent. Pt increases by 5 percent, then th will decrease by 1 percent