true or false: 1 Demand will attend to be more elastic if the time period is short 2 A normal good is good for which income in electricity exceeds unity. 3 A movement along the supply curve is called a change in supply. 4 Suppose that a $0.15 Increase in price of gasoline result in 1000 gallon per the reduction in the quantity demanded of gasoline. From this we can conclude that the demand of gasoline is elastic. 5 Assume that the cross elasticity Two goods is -3. an increase in the price of the first go to result in a downward movement along the demand curve for the second good. 6 Drive safe company recap tyres. In recent years income fell by 4% and the Companies are an increase in the quantity demanded 40 used tires increased by 6%. this evidence suggests that the income elasticity for drive safe tires is negative 7 Price elasticity of demand is defined as a change in quantity divided by the change in price 8 The cross elasticity of demand for a good x is the same as across I like to sit there for demand for a good Y for complementary good X and Y which of the following statements is te