D Question 34 Suppose butter beer prices at The Three Broomsticks falls from $8 to $4 and as a result the quantity demanded of chocolate frogs decreases from 40 to 20 per month. The cross-price elasticity of demand is closest to 0 02 O 0.16 5.0 0 1.0 Question 35 5 pts If Ethan thinks the last dollar spent on bowling yields more satisfaction than the last dollar spent on hamburgers, and Ethan is a utility-maximizing consumer, he should O bowl less, so the marginal satisfaction from expenditures in this area will increase. spend more on hamburgers, so total satisfaction from that activity will increase. O eliminate spending on hamburgers. O bowl more and spend less on hamburgers.D Question 36 Diminishing returns occur because Of lower opportunity costs of the factors of production. Of inefficiency in the production process. Of the use of inferior factors of production. A firm increases the amount of a variable input without changing a fixed input. D Question 37 Maximum total revenue occurs when O The absolute value of the price elasticity of demand is 1.0. Price multiplied by quantity is 1.0. The absolute value of the price elasticity of demand is 100