Question 6 1 pts 6. Here are four statements about consumer and producer surplus. Which are true? (Choose one or more.) Ceteris paribus, the higher is the price, the s umer surplus. Ceteris paribus, the lower is the surplus. Ceteris paribus, the higher is th surplus . Ceteris paribus, the lower is the price, ducer surplus. OD O B OC DA Question 7 1 pts 7. Here are four statements about (price) elasticities of demand and supply in the market for water. The demand for water is MORE elastic in the short run than in the long run. The demand for water to drink is LESS elastic than the total demand for water for all other purposes. The supply of water is LESS elastic in the short run than in the long run. IV The supply of drinking water is likely to be MORE elastic than the supply of water for irrigation. Choose the correct option from the list below. Only I and Il are true. Only I and IV are true. Only II and Ill are true. Only Ill and IV are true. OC OA OD OB Question 8 1 pts Questions 8-11. You may use a to help you answer these questions. Questions 8-11. You should use the data below for these questions Price ($) Quantity Total revenue ($) Marginal revenue demanded per unit ($) N/A (I recommend that you calculate the three values where the question marks ppear.) 8. The absolute value of the (price hand calculated for a FALL in price from $2 to $1 is OC >1 OB OA 1 OA 1 OA