17. Studies have shown that a 10% increase in the price of songs on iTunes causes a 5% decrease in the number of songs purchased. The price elasticity of demand for songs is shown to be. A) Not enough information is provided B) Unitary Elastic C) Inelastic D) Elastic 9. The marginal benet of an ice cream scoop is the: A) maximum amount that a consumer is Willing to pay for the scoop. B) total amount that a consumer is willing to pay for a whole quart of ice cream, divided by the number of scoops. C) difference between the value of the scoop to the consumer and the price of the scoop. D) price of the scoop of ice cream. 10. Assume an economy produces only two goods: gold rings and spears. The price of spears is $10 While the price gold rings is $30. Further, Solomon's budget constraint can be represented by the equation: Qs = 9 - 3Qg. Qs is the quantity of spears, and Qg is the quantity of gold rings. What is Solomon's opportunity cost of buying and consuming 1 gold ring? A) 1/3 ofa spear B) 3 spears C) 3 gold rings D) 1/3 ofa gold ring