These are multiple choice questions: You have to read the questions and answer.

Question 10 (1 point) The price of a gallon of milk rises from $2 to $2.60. In response to this price change, the quantity demanded for milk falls by 5%. The absolute value of the price elasticity of demand for milk is and the price elasticity of demand is - . Use the mid-point method. 6; elastic 6; inelastic 0.17; elastic 0.19; inelastic Question 11 (1 point) If income rises by 10% and the quantity demanded of an item falls by 30%, the income elasticity of demand for this item is: O 0.67. -0.33 0. 33. O - 3.Question 26 (1 point) If Beyonce concert tickets are sold out within five minutes of being released, we can conclude that O there is a control on how high the ticket prices can go. O there is a shortage of Beyonce concert tickets in the market. the price of the tickets is above the equilibrium price in the market. the quantity supplied of Beyonce concert tickets is more than the quantity demanded.Question 8 (1 point) (Figure: Supply Curves) The figure shows four different supply curves for four products: A, B, C and D. Which of the products has an elastic, but not perfectly elastic, supply curve? A B D Price Price Price Price Supply Supply Supply Supply Quantity Quantity Quantity 12 Quantity product A 15 V product B product C 18 product DN W Question 13 (1 point) Use the table to answer the question. Price Quantity Quantity UT 6 Demanded Supplied (units) (units) $25 450 200 $30 420 220 8 9 $35 390 240 $40 360 260 $45 330 280 $50 300 300 11 12 $55 270 320 $60 240 340 What is the equilibrium price in this market? 14 15 $60 17 18 $AS $35 $50Question 12 (1 point) The price of gluten-free buns falls by 7%. In response, the quantity supplied of gluten-free buns falls by 3.5%. The price elasticity of supply for gluten-free buns is: O 2. O o.5. O - 0.5. O 0.33.Question 28 (1 point) (Figure: Shift in Demand 2) Use the figure to answer the question. Price Old demand New demand Quantity Which of the following market changes would lead to a shift of the demand curve from Old demand to New demand? A report is published noting that the product has adverse health effects. There is a decrease in the price of a complement product. There is an increase in the number of consumers in the market for the product. There is an improvement in production technology used by sellers