9. If the Price of a related good A changes, then for good Bstay on the same demand curve, and move along it, as opposed toshifting to a new demand curve.
True or False
10.If the Income Elasticity of deamnd for a good is negative, wecan say that the good is normal good.
True or False
11. Own price elasticity of demand is always negative, becauseof the law of demand.
True or False
12. A firm in a perfectly competitive market, finds that it's MR= MC occurs at Q = 100, at which point the market Price is $8. Whatis the firm's TR at this point?
a.100
b.8
c.800
d.10.50
