(I) and (2) only

(II), (III), and (IV) only

All of the above

(I), (II), and (III)

Non-durable

Durable

Elastic

Inelastic

$680.28

$660.80

$620.47

$640.18

Inelastic products have many available substitutes.

An example of an inelastic product is gasoline.

All of the above are correct.

It results when a large change in price has only a small impact on the quantity demanded.

Vertical, diagonal

Horizontal, vertical

Vertical, horizontal

Diagonal, horizontal

$489.04

$871.29

$710.18

$999.99

21

30

24

18

Short run, long run, inelastic

Short run, long run, elastic

Long run, short run, inelastic

Long run, short run, elastic

$37,212.44

$47,205.58

$41,310.98

$55,210.12

(II), (III), and (IV) only

All of the above

(I) only

(II) and (IV) only

Movement along the supply curve

Shifting the supply curve

Movement along the demand curve

Shifting the demand curve

Confidentiality

Professionalism

Objectivity

Fairness

$14,000

$70,000

$28,000

$100,000

$50,283.49

$46,979.26

$49,840.25

$48,292.38

(II), (III), and (IV) only

(I) and (II) only

All of the above

(II) and (III) only