Only need answer.Thank you

1.Tim is deciding whether or not to go to school today.He ultimately decides that his private benefits of going exceed his private costs of not going, and decides to go to school.From society's perspective, his decision:

Had no effect on efficiency

Caused efficiency to increase

May have increased or decreased efficiency

Caused efficiency to decrease

2.At a price of $100, Pat will buy 4 units.At a price of $80, Pat will buy 6 units.What is Pat's price elasticity of demand?

Price elasticity = 10

Price elasticity = 0.56

Price elasticity = 1.8

Price elasticity = 0.1

3.A $3/unit tax is placed on the sellers of a good with an elastic (relatively flat) demand curve.Assuming the new equilibrium is 10,000 units, which of the following would be the most likely result?

Consumer tax burden is $0

Consumer tax burden is $10,000

Consumer tax burden is $20,000

Consumer tax burden is $30,000

4.Which of the following is NOT true about monopolistic competition?

The actions of one seller will affect the actions of the others

Sellers may compete through the use of advertising

Sellers cannot earn supernormal profit in the long-run

Each seller produces a similar, but different good

5.In which of the following market structures would an individual firm face the most elastic demand curve for their good?

Oligopoly

Monopolistic Competition

Perfect Competition

Monopoly