PLEASE HELP! URGENT! A company that sells flowers is approached by a producer of flower nutrients to advertise the two p

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PLEASE HELP! URGENT!
A company that sells flowers is approached by a producer offlower nutrients to advertise the two products together, becausethey believe that flowers and flower nutrients are complements.What must be true when flower nutrient company estimates the changein quantity demanded of their own product when the price of flowerschanges, for the two to indeed be complements?
a) Cross price elasticity of demand (Ecp) is positive andgreater than 1
b) Cross price elasticity of demand (Ecp) is negative
c) Cross price elasticity of demand (Ecp) is positive but lessthan 1
d) Income elasticity of demand (Ei) is positive
What are the consequences of setting a price floor in themarket?
a) The price floor is above the equilibrium price
b) Quantity supplied exceeds quantity demanded
c) Both a) and b) are true
d) Neither a) nor b) is true
Which of the following is a form of quantity control (orquota)?
a) Providing subsidies to producers
b) Providing subsidies to consumers
c) the Medicare reimbursement schedule for physicians
d) limits on company wise emissions of carbon dioxide
Consider products like cigarettes: consumers get habituated tothem, however, it is easy to produce them, because inputs areeasily available. As a result, what can we expect from the priceelasticity of demand and supply in the market for cigarettes?
a) Demand is elastic, but supply is inelastic
b) Demand is inelastic and supply is inelastic
c) Demand is elastic and supply is elastic
d) Demand is inelastic, but supply is elastic
What is true about the consequence of government intervention inthe form of price controls in markets?
a) It will always increase total surplus
b) There will always be deadweight loss
c) There will be deadweight loss only if markets arecompetitive
d) There will never be any effect on total surplus
What are the consequences of setting a price ceiling in themarket?
a) The price ceiling is set above the equilibrium price
b) Quantity demanded exceeds quantity supplied
c) Both a) and b) are true
d) Neither a) nor b) is true
For price elastic demand, when considering the impact of achange in price on total revenue, which of the following istrue?
a) Quantity effect is greater than price effect
b) Price effect is greater than quantity effect
c) Price effect is equal to quantity effect
d) Total revenue is not impacted
The price of winter jackets decreases from $50 to $45, and inresponse the quantity demanded increases from 20 to 25. Calculateprice elasticity of demand using the point-estimate. Pick thecorrect option after taking the absolute value:
a) Price elasticity of demand (or |Ed|)is greater than 1
b) Price elasticity of demand (or |Ed|) is equal to 1
c) Price elasticity of demand (or |Ed) is less than 1
d) Price elasticity of demand (or |Ed|) is 0