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structure.com/courses/202840/quizzes/secured#lockdown Graph 3.20 P $16 S $10 $7 $5 D 20 30 If this market has a tax of $5 per unit imposed on producers, what is the Tax Revenue? O $100 O $210 O $5 O $25Suppose you are given the following demand data for a product. Quantity Price Demanded 30 40 50 60 70 The price elasticity of demand (based on the midpoint formula) when price decreases from $10 to 58 6 O -63 O -1.60 O -1.16 O -2.25Suppose the price of local cable TV service increased from$28.30 to$29.90 and as a result the number of cable subscribers decreased from 250,000 to 225,000. Along this portion of the demand curve, using the midpoint method, price elasticity of demand is approximately O -1.91 0-0.52 O -1.26 O -0.9If the demand for product X is inelastic, a 10 percent decrease in the price of X will Increase the quantity of X demanded by less than 10 percent decrease the quantity of X demanded by more than 10 percent O decrease the quantity of X demanded by less than 10 percent O increase the quantity of X demanded by more than 10 percentAnswer the next question based on information in the following table, Percentage Change in Percentage Change in Product Income Quantity Demanded W -1 X +6 43 -1 +1 N +8 Which product would be an inferior good? O product X O product W O product Y O product Z