If the point price elasticity of demand equals -2 and the marginal cost per unit is $10, the optimal price is: a. $5 b. $10 c. $20 d. impossible to determine without further information. 6. When the cross-price elasticity : a. demand rises by 3% with a 1% increase in the price of X. b. the quantity demanded decreases by 3% with a 1% increase in the price of X. c. the quantity demanded rises by 1% with a 3% increase in the price of X. d. demand decreases by 3% with a 1% increase in the price of X.7. If and MC = $0.44, the profit-maximizing price is: a. 3 b. $0.99 c. $0.66 d. $1.98 8. When the product demand curve is P = $5 - $0.05Q, and Q = 60, the point price elasticity of demand is: a. -2/3 b. -3/2 c. -8/3 d. -3/8 Use the following table to answer the next question. The Uretown Yokels ice hockey team is the only live sports entertainment in Uretown. Ticket Price Total Attendance Total Revenue Marginal Revenue $14 100 $1400 $12 200 $2400 $10 $10 300 $3000 $6 $8 400 $3200 $2 $6 500 $3000 -$2 $4 600 $2400 -$6