Question 14 1 pts At a price of $1.20, a local coffee shop is willing to supply 100 cinnamon rolls per day. At a price of $1.40, the coffee shop would be willing to supply 150 cinnamon rolls per day. Using the midpoint method, the price elasticity of supply is about 0 0.15 O 0.375 0 2.5 Q 2.60 Question 15 0.5 pts The federal government is concerned about obesity in the United States. Congress is considering two plans. One will ban the production and sale of "junk food." The other will increase nutrition- education programs and include substantial advertising campaigns to encourage healthy eating habits. The junk-food ban program O and the education program will reduce the quantity of junk food sold and raise the price. O and the education program will reduce the quantity of junk food sold and lower the price. O will reduce the quantity of junk food sold and raise the price. The education program will reduce the quantity of junk food sold and lower the price. O will reduce the quantity of junk food sold and lower the price. The education program will reduce the quantity of junk food sold and raise the price.Question 16 0.5 pts When the local used bookstore prices economics books at $15 each, it generally sells 70 books per month. If it lowers the price to $7, sales increase to 90 books per month. Given this information, we know that the price elasticity of demand for economics books is about 0 2.91, and an increase in price from $7 to $15 results in an increase in total revenue. 0 2.91, and an increase in price from $7 to $15 results in a decrease in total revenue. 0 0.34, and an increase in price from $7 to $15 results in an increase in total revenue. 0 0.34, and an increase in price from $7 to $15 results in a decrease in total revenue. Question 17 0.5 pts Figure 5-13 Bar: 430 220 Refer to Figure 5-13. Using the midpoint method, what is the price elasticity of supply between $100 and $220? 0 0.58 O 0.67 O 1.00 O 1.73 Question 18 0.5 pts Figure 5-13 Phat 430 220 Refer to Figure 5-13. Using the midpoint method, what is the price elasticity of supply between $16 and $40? 0 0.125 O 0.86 O 1.0 O 2.5