need help with 8 and 9

Question 8 (1 point) Elastic demand exists when a) a small percentage decrease in price produces a smaller percentage increase in quantity demanded. b) a small percentage decrease in price produces a larger percentage increase in quantity demanded. Oc) an increase in price causes a larger increase in quantity demanded. d) the quantity demanded remains the same regardless of level of price. e) no change in price produces a small percentage change in quantity demanded. Question 9 (1 point) Which of the following statements about the price elasticity of demand is most accurate? a) The more substitutes a product has, the more likely it is to be price elastic. Ob) All products show some price inelasticity. Oc) Nondiscretionary (necessary) purchases are price elastic. d) With inelastic demand, reducing price has a very large impact on revenues. e) With inelastic demand, manufacturers change prices frequently to capitalize on consumer behavior