Question 5 One of the assumptions of an economic analysis is that market functions are controlled by the government. O True O False Question 6 Scenario 5.1 The demand for noodles is given by the following equation: Q = 20 - 4P + 0.21 - 2Px. Assume that P = $8, I = 200, and Px = $10. Given the above equation, the income elasticity of demand for noodles is O 0.5 0 2 O 2.5 O 1.6 0 5 Question 7