Question: Need the answer for these questions QUESTION 1 The demand price is the price that consumers are willing and able to pay for a given

Need the answer for these questions

QUESTION 1 The demand price is the price that consumers are willing and able to pay for a given quantity of a good. QUESTION 2 is a state of rest for the market. QUESTION 3 Goods are if a price change of one good and the demand change of the other good move in the same direction. QUESTION Goods are considered as if the income elasticity of demand for those goods is positive but less than one. QUESTION 5 The cross-price elasticity of demand between two goods will be if a 10% increase in the price of one good leads to an 8% decrease in the quantity demanded of the other good. QUESTION 6 A price elasticity of demand coefficient of two (2) indicates that a fifteen (15) percent change in the price of a good will cause a percent change in the quantity

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