X y other issues no covered above ontact Insearch Exams department via:Email: Exams@insearch.edu.au or Call +61 02 9218 4946 Question 10 1 pts The price of product X is reduced from $45 to $20 and, as a result, the quantity demanded increases from 20 to 25 units. From this we can conclude that the demand for X in this price range: O is inclastic O is clastic O has declined O is of unit elasticity Previous Falock N 4Canvas Question 11 Table 5-2 Quantities purchased Income (S) Good X Good Y 30 000 50 000 in Refer to Table 5-2. Good X is: O a normal good O an inferior good O very price clastic O underpricedX XU OBQB Question 12 Table 5-2 Quantities purchased Income S Good X Good Y 30 000 50 000 2 Refer to Table 5-2. Good Y is: O an inferior good O price inclastic O not related to income O a normal goodX Canvas XUOBQE Question 13 Markets are inefficient when positive production externalities are present because: O social costs of production exceed private costs of production when the market is in equilibrium O social benefits of consumption exceed private benefits of consumption when the market is in equilibrium O private costs of production exceed social costs of production when the market is in equilibrium O private benefits of consumption exceed social benefits of consumption when the market is in equilibrium Previous MOOZ 2 F10 Insert Prisc Delete Home PgDn Backspace Tab LCX XU0 BQ Question 14 When the social benefts are greater than the private benefits, this is the presence of: O positive externalities O total externalities O negative externalities O positive internalities Previous Insert PrtSc Delete Home End PgUp N FS FG F7 F9 F10 F11 MOOZ Backspace C WU O