\fQuestion 5/ ) Listen Consider the market for beer in the diagram below: 70 60 50 Price ($) 40 30 20 10 D 100 200 300 400 500 600 700 800 900 1,090 Beer (millions of cases) What is the equilibrium price and quantity of beer? $20 and 400 million cases of beer $20 and 500 million cases of beer $25 and 400 million cases of beer O $25 and 500 million cases of beerincrease in the quantity supplied of cigarettes a change in the demand of cigarettes Question 30 (1 point) )Listen Average annual consumer incomes rise from $50 000 to $60 000, pushing up the quantity demanded for cars in a given region from 750 000 to 1.25 million. The numerical value of the income elasticity of cars is therefore: O-0.36 0.33 3.33 0.36 2.75 Previous Page Next Page Page 15 of 18 Submit Quiz 7 of 40 questions saved