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C. consumer income<br />
D. the cost of producing the<br />
product<br />
Question 8 of 205.0/ 5.0 Points<br />
A demand curve is defined as the relationship between __________ .<br />
A. the price of a good and the quantity of that good that consumers are willing to buy<br />
B. the price of a good and the quantity of that good that producers are willing to sell<br />
C. the income of consumers and the quantity of a good that consumers are willing to<br />
buy<br />
D. the income of consumers and the quantity of a good that producers are willing to sell<br />
Question 9 of 205.0/ 5.0 Points<br />
The quantity of TVs sold is 100 at the unit price $200. Suppose the price elasticity of demand for<br />
TVs by the initial value method is 2.0, and you would like to decrease the unit price for TVs to<br />
$150. Then the new quantity sold must be __________ .<br />
A.<br />
125<br />
B. 150<br />
C. 200<br />
D.<br />
250<br />
Question 10 of<br />
5.0/ 5.0 Points<br />
20<br />
Suppose that in a month the price of tulips increases from $1 to $1.50. At the same time, the<br />
quantity of tulips demanded decreases from 200 to 190. The price elasticity of demand for tulips<br />
(calculated using the initial value formula) is __________ .
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