At a specific point on the demand curve for backpacks, the elasticity of demand iscalculated to be -2.2.

a.At that point, we would describe demand as

(Choose the correct one)

elastic

inelastic

unit elastic

fully supplied

b.If the price of backpacks fell by 10%, the quantity demanded would rise by

(Choose the correct one)

10%

22%

2.2%

0%

and revenue for the backpack industry would

(Choose the correct one)

rise

fall

remain the same

c.If the price of backpacks rose by 20% the quantity demanded would fall by

(Chose one option only)

20%

44%

11%

90%

and revenue for the backpack industry would

(Chose one option only)

rise

fall

remain the same

.

.