Answer with small explanation

3 Question 5 If the price elasticity of demand is -1.5. The demand is: 0 Elastic 0 Unit elastic O Inelastic 0 can't determine 3 Question 6 Total revenue increases as the price of a good increases if price elasticity of demand is Ocan"t determine 0 Inelastic 0 Unit elastic 0 Elastic 3 Question 7 Which of the following elasticity cannot be positive? 0 Income elasticity of demand 0 Price elasticity of supply 0 Cross-price elasticity of demand 0 Price leasticity of demand 3 Question 8 The demand for the following good is more inelastic: O Gasoline 0 Life saving medication 0 Ketchup 0 Vacation rentals 3 Question 9 7 Suppose income elasticity of demand of good A is 13, Based on the income elasticity. good A is classied as O Necessity O inferior good 0 can't determine 0 Luxury D Question 10 7' Suppose price ofa good increased from $3 to $4. In response, consumer has decreased his consumption from 15 units to 10 units. Price elasticity of demand is: 0-2 0-0.5 00 0-1