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Please provide brief explanations. The answers alone will suffice QUESTION 8 Suppose the price elasticity of demand for vitamins is -0.8 and the price elasticity

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Please provide brief explanations. The answers alone will suffice

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QUESTION 8 Suppose the price elasticity of demand for vitamins is -0.8 and the price elasticity of supp is 6.0. If a subsidy were paid for vitamins, which side of the market would enjoy most of the benefit from the subsidy? Each side would enjoy half of the benefit. Suppliers would enjoy most of the benefit. Neither side would enjoy any of the benefit. Demanders would enjoy most of the benefit. QUESTION 9 What would happen to consumer and producer surplus if a price ceiling was imposed on steel? Producer surplus would decrease, consumer surplus would increase, and total surplus would decrease. Producer surplus would increase, consumer surplus would decrease, and total surplus would decrease. Producer surplus would decrease, consumer surplus would increase, and total surplus would increase. "Producer surplus would increase, consumer surplus would decrease, and total surplus would increase

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