choose the correct answer

Question 1 2 pts A pizza restaurant raises the price of their pizza by 20%. As a result, they witness a 10% decrease in the quantity demand of their pizza. What is the price elasticity of demand for this pizza restaurant? 0 -10 0 es 0 -2 o 325 Question 2 2 pts When a price of good increases and the percentage change in the quantity demanded is smaller than the percentage change in the price, the demand for the good is said to be 0 Unitary 0 Elastic O Inelastic O Perfectly elastic Question 3 2 pts If a 30 percent increase in the price of tomatoes led to a 40 percent decrease in the quantity of tomatoes demanded, then the demand for tomatoes is ______ . O Perfectly Elastic 0 Elastic O Unitary O Inelastic Question 4 2 pts At a price of $35, Davidson Cycles rented 22 bicycles. When it increased its rental price to $45, 18 bicycles were rented. Calculate the price elasticity of demand for bicycle rentals using the midpoint formula. (Solution options are given as negatives, the book would have you take the absolute value) 0 -1.25 o -o.ao O -2.42 O -0.91 Question 5 2 pts Emily is addicted to Starbucks coffee. She says she needs to have her tail, non-fat late with caramel drizzle every morning and would buy it no matter the price. According to her statment, what is Emily's price elasticity of demand for tall, nonfat lattes with caramel drizzle? 0 Elastic O Unitary O Perfectlyelastic O Perfectly inelastic Question 6 2 pts A vertical demand curve for a good suggests that the demand for the good is ___________ . O Perfectlyinelastic O Unitary 0 Elastic O Perfectly elastic Question 7 If the price elasticity of demand for frozen pizza is 1.41. What happens to sales revenue if the price of frozen pizza rises? O I can't come up with a good fourth option' Don't pick this one 0 It falls 0 It rises 0 It stays the same Question 8 What is the most critical determinant of the price elasticity of demand? 0 The size of consumers budget 0 The price elasticity of supply 0 The unit price ofa good 0 Availability of close substitutes Question 9 If the cross-price elasticity of demand for Widgets and Twingers is negative, this means the two goods are 0 Complements 0 Normal 0 Inferior O Substitutes Question 10 If a good has a negative income elasticity of demand, this indicates that the good is O a substitute of another good 0 normal 0 a complement of another good 0 inferior