When the total revenue is unchanged despite the change in price, demand is O a. inelastic O b. unitary elastic O c. horizontal 0 d. vertical Which of the following would result in an increase in equilibrium price and an ambiguous change in equilibrium quantity? 0 a. an increase in supply and demand 0 b. an increase in supply and a decrease in demand 0 c. a decrease in supply and demand 0 d. a decrease in supply and an increase in demand Assume that Good X is an inferior good. The price of Good X is $9 and the quantity is 6,000 units, at the original equilibrium. If income increases, ceteris paribus, which of the following would be the new equilibrium of Good X? 0 a. $11 and 8,000 units 0 b. $11 and 4,000 units 0 c. $7 and 8,000 units 0 d. $7 and 4,000 units Table 1 nn $60 $80 $70 $90 Refer to Table 1 above to answer the question below. Note that P represents the price consumers are willing to pay for various quantities. The external cost is equal to per unit. 0 a. $60 0 b. $70 0 c. $20 0 d. $50 Table 1 nII $50 $70 $60 $80 $70 $90 Refer to Table 1 above to answer the question below. Note that P represents the price consumers are willing to pay for various quantities. The market equilibrium occurs where price is and quantity is O a. $70; 200 O b. $50; 200 O c. $60; 300 0 d. $80; 300 Table 1 n-II $40 $60 $50 $70 $60 $80 $70 $90 Refer to Table 1 above to answer the question below. Note that P represents the price consumers are willing to pay for various quantities. The social optimum occurs where price is and quantity is O a. $70; 200 O b. $50; 200 O c. $60; 300 0 d. $80; 300