Toilet paper is a product which has inelastic demand--it is a necessity & there's not really great substitutes for it. If the price of toilet paper were to go down for some reason, what would be the effect on quantity demanded?

1. A big increase in quantity demanded
2. A small increase in quantity demanded
3. A big decrease in quantity demanded
4. A small decrease in quantity demanded

A tax was introduced on e-cigarettes. The introduction of the tax would do what to each of the following below?

	Increase	Decrease	No change
Producer surplus
Consumer Surplus
Deadweight loss
Government revenue

The introduction of a tax on e-cigarettes would do what to the equilibrium quantity of e-cigarettes?

1. Increase
2. Decrease
3. No change