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1)Which of the following would be the best example of " markets allocating resources?"

a. the prices of new houses rise and more choose to work in construction

b. institution improve in a country

c. profits provide a strong incentive for innovation

d. property rights become part of the law in a country

2)

When the local symphony recently raised the price for tickets to its summer concerts in the park, the symphony's total revenue actually decreased. What does this outcome indicate about the elasticity of demand for symphony tickets? Select one: O a. It is unit inelastic. O b. It is inelastic. O c. It is elastic. O d. It is unit elastic. Clear my choice