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Short answer questions. 7. Artie has $60 to spend on books and movies, given the following graph, how much do books cost? Movies Books 8.

Short answer questions.

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7. Artie has $60 to spend on books and movies, given the following graph, how much do books cost? Movies Books 8. In the summer, Emma's demand for her favorite fruit, nectarines, is Q =20-2p where Q is quantity of nectarines and p is the price per nectarine. What is her consumer surplus if the price per nectarine is $2? 9. If a good has perfectly inelastic demand, what will happen to the quantity demanded if the price increases

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