please Answer the following questions

1- Thefirst set of six questions involves the concept of elasticity.The first three of those six questions involve the product ELECTRICITY.The next three questions are similar to the first three, but involve the product RESTAURANT MEALS.The demand for ELECTRICITY is (this refers to the price-elasticity of demand for theproduct):

A.Unit elastic

B.Elastic

C.Inelastic

2- The coefficient of the price elasticity of demand for ELECTRICITY is:

A.Less than or below one (<1)

B.Equal to one (=1)

C.Greater than or above one (>1)

3-If you were a manager of a business selling ELECTRICITY, what would happen to your GROSS REVENUES if you LOWERED the price of this product per kilowatt-hour?

A.Gross revenues would DECREASE if the price of electricity were lowered

B.Gross revenues would REMAIN THE SAME if the price of electricity were lowered

C.Gross revenues would INCREASE if the price of electricity were lowered

4- The nextthree questions involve the product RESTAURANT MEALS.The demand for RESTAURANT MEALS is (this refers to the price-elasticity of demand for theproduct):

A.Unit elastic

B.Elastic

C.Inelastic

5-The coefficient of the price elasticity of demand for RESTAURANT MEALS is:

A .Less than or below one (<1)

B. Equal to one (=1)

C. Greater than or above one (>1)

6-f you were a manager of a business selling RESTAURANT MEALS, what would happen to your GROSS REVENUES if you LOWERED the price of this product per meal?

A.Gross revenues would DECREASE if you lowered the priceof eachmeal

B.Gross revenues would REMAIN THE SAME ifyou lowered the price of each meal

C.Gross revenues would INCREASE if you lowered the price of each meal

7-Bread is

A.Unit elastic

B.Elastic

C.Inelastic

8- Milk is

A.Unit elastic

B.Elastic

C.Inelastic

9- Major leaguebaseball ticketsare

A.Unit elastic

B.Elastic

C.Inelastic

10-Lamb & mutton are

A.Unit elastic

B.Elastic

C.Inelastic