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Question 23 31m 3m coo 0\""! 01 02 m According to the above gures, how many units of output will be supplied to the market if there are 300 identical rms and a market price of $400? 0 180,000 0 200,000 0 150,000 0 120,000 Question 24 Suppose the price of cherries decreases by 4 percent and consumers respond by increasing the quantity demand by 2 percent The price elasticity of demand for cherries is: O 2.0 and demand is inelastic. O 2.0 and demand is elastic. O 0.5 and demand is inelastic. O 0.5 and demand is elastic