1. If the demand function for X is Q = AP^b and b= minus 2 (Multiple choice)
2. Consumer expenditure rises with price initially when price is low and price elasticity of demand is between Zero and minus one and then falls when price rises into the range where price elasticity of demand is less than 1.
3. Consumer expenditure on the good increases as price falls
4. Consumer expenditure on the good decreases as price falls
5. Consumer expenditure is unchanged when price falls
6. None of the above.