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Using the determinants listed above, categories the following goods based on whether you would predict demand for the product would be relatively elastic or inelastic: Toothpaste [ Choose ] [ Choose ] Starbucks vanilla latte Elastic Inelastic Salt [ Choose ] Luxury watches [ Choose ]Which of the following are determinants of price elasticity of demand? Prices of complementary goods Competitive dynamics, including scope of the market Adjustment time: short vs. long run Degree of necessity Excise taxes Share of the consumer's budget Technology Availability of substitutesWhen the price of a good decreased from $40 to $30, quantity sold increased from 250 to 300 units. Which of the following statements is true? O Total revenue decreased and demand is inelastic. O Total revenue decreased and demand is elastic. Total revenue increased and demand is inelastic. Total revenue increased and demand is elastic.Suppose that the Bay Area Toll Authority is considering raising the tolls on all 7 Bay Area bridges from $7 to $8. To help inform their decision, they calculate the elasticity of demand for bridge crossings in the Bay Area using data from the recent increase in January 2022. If their goal is to raise additional revenue, they should: increase the toll regardless of elasticity. O increase the toll only if demand is unit elastic. O increase the toll only if demand is elastic. O increase the toll only if demand is inelastic.Suppose when Starbucks increases the price of their lattes, they notice that revenue from latte sales stays the same. What does this tell us about the elasticity of demand for lattes? O Demand is unit elastic. O Elasticity cannot be determined from the information given. O Demand is inelastic. O Demand is elastic