Question: I got these wrong, can you please help: Question 8 1 points Save Answer If a 20% increase in price leads to a 30% increase

I got these wrong, can you please help:

I got these wrong, can you please help: Question 8 1 pointsSave Answer If a 20% increase in price leads to a 30%increase in quantity supplied, then which of the following statement is correct?Price elasticity of demand is 1.5 Price elasticity of demand is 0.66.O Price elasticity of supply is 1.5 Price elasticity of supply is

Question 8 1 points Save Answer If a 20% increase in price leads to a 30% increase in quantity supplied, then which of the following statement is correct? Price elasticity of demand is 1.5 Price elasticity of demand is 0.66. O Price elasticity of supply is 1.5 Price elasticity of supply is 0.66Question 2 1 points Say TTC is considering a fare hike. At the current fare of $2.00, daily ridership is 24,000 people. The city estimates that if it raises the fare to $3, ridership will decline to 21,000 people. Using the mid-point method of calculating elasticity, which of the following is price elasticity of demand? O 0.0 O 1/3 1.0 6.0Question 3 1 points Say Suppose that a technological breakthrough occurs in the production of cell phones. All else equal, the equilibrium price of cell phones will , the equilibrium quantity of cell phones sold will Consumer surplus will and producer surplus will O Increase, decrease, increase, decrease O Decrease, decrease, decrease, increase O Decrease, decrease, increase, increase Decrease, increase, increase, increaseQuestion 11 1 points Why does total output in an economy increase when each person specializes? O because there is much less competition for the same resources because each person spends more time producing that product for which they have a comparative advantage O because a wider variety of products can be produced with specialization because more people will be producing products than before?Question 4 1 points Saving Answer Which of the following is the income elasticity of demand for housing if people always spend 30% of their incomes on housing? O 0.25 1.00 O 2.5 O 25

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