help!! Only answer if 100% sure. 1. Which model illustrates the relationship between price and quantities and the relative benefits of producers and consumers in the market overtime? A- Circular flow B- production possibilities curve C- supply and demand D-marginal cost E-total utility 2. If the supply have a good is very elastic and the demand is very inelastic who will pay more for an excise tax? A-consumers B-producers C-consumers and producers share the burden equally D- The government E-indeterminate 3. Michelle can produce 20 dozen cookies and 5 cakes in one day. Robert can produce 5 dozen cookies and 5 cakes in one day. Who should specialize in cakes and who should specialize in cookies? A-Robert specialize in cakes and cookies B-neither Michelle not Robert should specialize C-massage specialize in cakes and cookies D-Michelle should specialize in cakes and Robert and cookies E-Robert should specialize in cakes and Michelle in cookies 4. What would be the effect of the market supply curve from the government imposing a per unit tax on the production of a good? A-No change B-A shift to the left C-A shift to the right D-An increase in price E-An increase in the quantity supplied 5. Businesses in which market structures would be affected if a per unit excise tax were imposed? A-Perfect competition B-Monopolistic competition C-Oligopoly D-Monopoly E-All the above 6. A market in which private consumers are not the only beneficiaries of the purchase represents a_______ and will result in________ than the socially optimal quantity. A-Negative externality; less B-Negative externality; more C-Positive externality; more D-Positive externality; less E-Natural monopoly; less 7. If a firm with a supply schedule with positive units at every price leaves the market, ceteris paribus, what will happen to the market supply? A-it will shift right by that firms output quantity at every price B-It will shift left or decrease by that firms Output quantity at every price C-It will not change D-It will become more elastic E-insufficient data to determine 8. Company alpha produces its product in a perfectly competitive market that is long run equilibrium. What will happen if it lowers its price while increasing its output. A-It will increase revenue but increased cost by the same amount B-It will incur economic losses C-It will take business from its competitors, increasing its revenue and profit D-It will begin to develop market power, making its market imperfectly competitive E-it's producer surplus will increase but consumer surplus will decrease by greater amount