Question: please answer QUESTION 21 Given the demand curve Q = 200 - %P, if P = 400 O A. demand is inelastic. O B. demand

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please answer QUESTION 21 Given the demand curve Q = 200 -%P, if P = 400 O A. demand is inelastic. O B.

QUESTION 21 Given the demand curve Q = 200 - %P, if P = 400 O A. demand is inelastic. O B. demand is unitary elastic. O C. demand is elastic. D. demand can be elastic, inelastic, or unitary elastic. QUESTION 22 If there is an inverse relationship between quantity demanded and total revenue, then demand is O A. melastic. O B. it depends upon whether price is increasing or decreasing. O c. unitary elastic. O D. elastic. QUESTION 23 Under what circumstances do producers pay the majority of the tax burden? O A. when supply is relatively inelastic as compare to demand. O B. always. O C. never. O D. when demand is relatively inelastic as compared to supply. QUESTION 24 A firm is currently producing on the inelastic portion of its demand curve. In order to increase revenue, what would you recommend? O A. it depends on the elasticity of supply. O B. increase price. O c. keep price where it is. O D. decrease price.QUESTION 25 In output markets, the elasticity of supply O A. Is ALWAYS negative. O B. runs from elastic to inelastic as you move up the supply curve. O C. Is ALWAYS positive. O D. runs from inelastic to elastic as you move up the supply curve

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