If a linear demand curve A is 'more elastic' than another linear demand curve B then which of the following is true? O The value of the PED is lower on A than on B at all points on the curve. O The absolute value of the PED is lower on A than on B at any point where they cross. O The value of the PED is lower on A than on B at any point where they cross. O The absolute value of the PED is lower on A than on B at all points on the curve. O None of the above.

An individual has the following utility, U = In X + 2 In Y. What do we know about the Marshallian and Hicksian demand elasticities of good x with respect to the price of x? O a. Marshallian elasticity ex.p, will be more negative than Hicksian elasticity ep. O b. Marshallian elasticity ex.p. will be less negative than Hicksian elasticity ep. c. Marshallian elasticity ex.p. will be the same as Hicksian elasticity e.p. O d. Marshallian elasticity and Hicksian elasticity will have opposite signs. Clear my choice An individual has utility function U(X, Y) = X1/5 Y 23. Which of the following is true? O a. Demand for X and Y have constant expenditure shares s and sy. O b. The income effect for both goods is 0. O c. X and Y are net complements. O d. The own-price substitution effect of x (dhldpx) is 0. Clear my choice

Attina's sister, Aquata always spends 20% of her income on boots. Assume that her income increases by some percentage while the price of boots remains constant (and that all boots cost the same). What is her income elasticity of demand for boots? O 0.2 need more information to tell 0 1

Using the graph, complete the table that follows by indicating whether each statement is true or false. Statement Curve NN is less elastic between points A and D than curve MM is between points A and C. Between points A and E, curve 00 is unit elastic. Between points A and C, curve MM is inelastic. True False O O