IO. 11. 12. 13. Let's start with the market for Sparkling Ice, a avored water, in equilibrium and let's say the demand is really elastic. If avored tea becomds more popular and the demand for Sparkling Ice falls, we would expect the change in quantity demanded to be F. \\ a. zero c. innite b. relatively small d. relatively large Along a linear demand curve, as quantity demanded increases, the price elasticity of demand 3. becomes more inelastic c. does not change b. becomes more elastic d. moves closer to zero When the Nintendo Switch was introduced and began substituting for other gaming consoles like XBoxl , the demand for XBoxl became . a. more elastic c. perfectly elastic b. less elastic d. unchanged Which one of the following pairs of goods is likely to have a positive crosswprice elasticity of demand? a. swimsuits and sunscreen 0. income and savings b. beach vacations and ski vacations d. eggs and arm chairs When the price of Good A increases from $1.50 to $2.50, the quantity demanded of Good B is unchanged, The cross-price elasticity of demand between Good A and Good B is because Good A and Good B are . a. i; substitutes c. 0; normal goods b. %; complements d. 0; unrelated The Ferrell Center's seating capacity is 10,347. What is the price elasticity of supply of seats at a Ferrell Center event? a. H r b. innitiy c. less than] d. greaterthanl Scott and Melinda both enjoy playing golf and trying out new courses. If Scott is willing to pay $15 and Melinda is willing to pay $22 for a round of golf, what is their consumer surplus if the Twin Rivers course charges $18? A, . A... AA