One benefit of a negative income tax is that it would increase work incentives

Due to a recession, Hostess Bakeries found that the demand for its products decreased. The demand for products ________ the demand for bakers and ________ the equilibrium wage rate paid to bakers

A) increased; raised B) decreased; raised C) increased; lowered D) decreased; lowered

Jim saw a decrease in the quantity demanded for his firm's product from 800 . to 600 . units a week when he raised the price of the product from $200 to $250 . Based on this information, the demand for Jim's product is

a. Elastic b. Unitary elastic c. Inelastic d. Hard to determine