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8. If the percentage change in quantity demanded is greater than the percentage change in price, then the demand for the commodity is * (1 Point) O elastic. O inelastic. O unitary elastic. 0 cannot be determined 9. The seller of the commodity can maximize the total revenue by increasing the price if the demand for the commodity is * (1 Point) O elastic. O inelastic. O unitary elastic 0 cannot be determined. 10. Given the Q-intercept of the demand curve of 80 units, the coefficient of price elasticity of demand at the quantity level of 30 units is * (2 Points) 0 cannot be determined. 11. Between the two points (20, 5) and (30, 3) along the demand curve, the coefficient of price elasticity of demand is * (2 Points) O greater than 1 O lesser thanl O equal to 1 0 cannot be determined 16. Given the P-intercept of P7.00, the coefficient of price elasticity of demand at the price of P2.00 is * (2 Points) 0 cannot be determined 17. The buyer who is very sensitive to the percentage change in price is said to have * (1 Point) O elastic demand. 0 inelastic demand. 0 unitary elastic demand. 0 cannot be determined. 4. Given the demand equation, Qd = 80 - 4P, the coefficient of price elasticity of demand at the price of P10 is * (2 Points) 0 greater than 1 O lesser than1 0 equal to 1 O cannot be determined. 5. The demand for the commodity is elastic when the coefficient of price elasticity of demand is * (1 Point) O greater than 1 O lesser than 1 0 equal to 1 0 cannot be determined. 14.At the middle point of the demand curve, the coefficient of price elasticity of demand is * (2 Points) 0 greater than 1. O lesser than 1. 0 equal to 1 O cannot be determined. 15. The coefficient of price elasticity of demand is measured by * (1 Point) the percentage change in quantity de- 0 manded divided by the percentage change in price. the percentage change in price divided 0 by the percentage change in quantity demanded. 0 change in price divided by the change in quantity demanded. 12. Any price level found above the centre of the demand curve has * (2 Points) 0 elastic demand. 0 inelastic demand. 0 unitary elastic demand. 0 cannot be determined. 13. Any price level below the middle point along the demand curve has * (2 Points) 0 elastic demand 0 inelastic demand 0 unitary elastic demand 0 cannot be determined 6. The demand for the commodity is inelastic when the coefficient of price elasticity of demand is * (1 Point) O greater than 1 O lesser than1 0 equal to 1 0 cannot be determined 7. Measures the coefficient of price elasticity of demand at a single point along the demand curve. * (1 Point) 0 point elasticity of demand O arc elasticity of demand 0 elastic demand O unitary elastic demand 2. Given that the P-intercept is P12, the coefficient of price elasticity of demand at the selling price of P500 is * (2 Points) 0 none of the above 3. Given that the Q-intercept is 120 units, the coefficient of price elasticity of demand at the quantity level of 30 units is * (2 Points) 0 None of the above. 1. The P-intercept and the Q-intercept are ( 0, 12) and ( 80 , 0) respectively. The demand equation for this commodity is (2 Points) O Qd = 80 - 6.67P O Qd = 80 - 0.15P O Qd = 12 - 6.67P O Qd = 12 - 0.15P18. To maximise total revenue, the seller needs to lower the price of the commodity which demand is * (1 Point) O elastic. O inelastic. O unitary elastic. 0 cannot be determined. 19. Given that the slope of the demand equation is -5, the coefficient of price elasticity of demand at a point (20 , 10) is * (2 Points) 0 cannot be determined