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6. How does a trade-off exist between a clean environment and a higher level of income? A) Studies show that individuals with higher levels of income actually pollute less than low- income individuals. B) To pay for pollution cleanup, the government must increase taxes, which increases income. C) Laws that reduce pollution raise costs of production and reduce incomes. D) By employing individuals to clean up pollution, employment and income both rise. 7. If the price elasticity of demand is 0.5, then a 10% increase in price results in a A) 50% reduction in quantity demanded. 5% increase in quantity demanded. 5% decrease in total revenues, D) 5% decrease in quantity demanded. E) 0.5% decrease in quantity demanded. 8. Consider two linear, downward-sloping demand curves, A and B. that intersect each other at point X with positive price and quantity. Demand curve A is steeper than demand curve B. We can conclude that A) curve A is less elastic than curve B at any point curve B is less elastic than curve A at any point. curve A is less elastic than curve B at point X. curve A is less elastic than curve B at any price above point X. curve B is less elastic than curve A at any price above point X 9. Suppose that the quantity of a good demanded rises from 90 units to 1 10 units when the price falls from $1.20 to 70 cents per unit. The price elasticity of demand for this product is A) 0.5. B) 1.0. C) 1.5. D) 2.0. E) 0.38 ges: Off