Question 1 (0.33 points)The elasticity of supply tells usQuestion 1 op

Question 1 (0.33 points)The elasticity of supply tells usQuestion 1 options:the change in quantity produced due to a change in consumer income..the change in quantity produced due to a change in income taxes.the change in quantity produced due to a change in product prices.the change in quantity produced due to technological change.SaveQuestion 2 (0.33 points)If a fall in the price of coffee reduces the demand for tea, then coffee and tea areQuestion 2 options:substitutescomplementsunrelated productsinferior goodsSaveQuestion 3 (0.34 points)Utils are a concept used by economists to describe consumers’Question 3 options:utility billsresponsiveness to changes in price or incomewell-being and satisfaction from an economic decisionwages and incomeSaveQuestion 4 (0.33 points)After the price of plane tickets rose, consumers went on fewer trips becauseQuestion 4 options:their quantity of plane tickets demanded fell.their demand for plane tickets fell.their demand for plane tickets was inelastic.airlines expanded the number of available planes and tickets.SaveQuestion 5 (0.01 points)On what day is the final exam due in in this course?Question 5 options:Sunday of Week 8May 10, 2015, 11:59 EDTThe Ides of March.There is no final exam in this course.SaveQuestion 6 (0.33 points)The U.S. economic system is a good example of aQuestion 6 options:command economytraditional economic systema market economya socialist economySaveQuestion 7 (0.33 points)An example of marginal utility isQuestion 7 options:the pleasure from eating an additonal doughnutthe pleasure from buying a new carthe pleasure from taking a walkthe benefits of signing up for health insuranceSave

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