An increase in household debt will lead to an increase in consumption expenditures

The figure above shows Ronald's budget line. He has a weekly income of $20, which he spends on hotdogs and hamburgers. Ronald's real income in terms of hamburgers ________

A) depends on the quantity of hamburgers consumed B) depends on the quantity of hotdogs consumed C) is $20 D) is 10 hamburgers

If demand is unit-elastic throughout the demand curve, then total revenues are

A. lower the higher the price. B. the same for any price the firm charges. C. greater the higher the price. D. maximized at the midpoint of the demand curve.