Chapterb or 19 Elasticity: PreCIass & In-Dlass Actiyitiss Packet Hame. Number: Section: Date: Part 3. Discussion Duesticrrs and Problems 1. Explain how a seller can determine whether the demand for his or her good is inelastic, elastic or unit elastic between two prices. 2. Fer each ofthe following. identify Ilrl'lere demand is elastic, inelastic, perfectly elastic, perfectly inelastic, or unit elastic: {at Price rises by 10 percent and the quantity demanded falls by 2 percent; {bi Price falls by 5 percent and the quantity demanded rises by 4 percent; [c] Price falls by 6 percent and the quantity demanded does not change; {di Price rises by 2 percent and the quantity demanded falls by 1 percent 3. Identify whether total reyenue rises, falls, or remains constant for each of the following: {at Demand is inelastic and price fa Ils; {bi Demand is elastic and price rises; [c] Demand is unit elastic and price rises: {di Demand is inelasijcand price rises; {ei Demand is elastic and price falls 4. Atari is placed on the sellers cfa good. What happens to the percentage of this tax that buyers pay as the price elasticity of derna rid for the good decreases? Explain. 5. Hey.I might you determine whether toothpaste and moutlwrash manufacturers are competitors? 6. Proye that price elasticity cfdemand is not the same as the slope of a demand curve? T. \"If goyemment wishes to tax certain goods, it should tax goods that hate inelastic rather than elastic demand.' What is the rationale for this statement? 3. For each ofthe following pairs of goods, which has a higher price elasticity of demand? {at Airline trayel in the short run or airline trayel in the long cm {bl Television sets or Sony teleyision sets {:2} Cars or Fords id} Telephones crATET telephones: ie} Popcorn or Untille Redenbach er's popcorn 9. What is the difference between elastic and inelastic demand