2. If cod fish is taxed at $3 a kilogram, who pays the tax respectively? (A) Consumers pays $0 per kilogram, and suppliers pay $3 per kilogram (B) Consumers pays $1 per kilogram, and suppliers pay $2 per kilogram (C) Consumers pays $2 per kilogram, and suppliers pay $1 per kilogram (D) Consumers pays $3 per kilogram, and suppliers pay $0 per kilogram (Question 3-5) The market demand schedule and total cost schedule for lemonades at NTPU campus are in the following table (per hour number). Answer the following questions. | Price (dollars per bottle) | Quantity (bottles per hour) | Total cost (dollars per hour) | | --- | --- | --- | | 8 | 0 | 1 | | 7 | 1 | 2 | | 6 | 2 | 4 | | 5 | 3 | 7 | | 4 | 4 | 11 |

12. Wedding events are not mandatory because couples can simply marry at the district offices. Based on the observation, wedding events are (A) a luxury good and their income elasticity of demand is greater than 1 (B) a luxury good and their income elasticity of demand is less than 1 (C) a necessity good and their income elasticity of demand is greater than 1 (D) a necessity good and their income elasticity of demand is less than 1 | Wealth (dollars) | Utility (units) | | --- | --- | | 5,000 | 150 | | 4,000 | 140 | | 3,000 | 120 | | 2,000 | 90 | | 1,000 | 50 | | 0 | 0 | (Question 13-14) On the above is Kristoff's utility of wealth schedule. Kristoff's wealth is $5,000 and it consists entirely of his share in a risky ice harvesting business. If the summer is cold, the business will fail, and he will have no wealth. Where Kristoff lives there is a 40 percent chance each year that Elsa will start snow storms and then the summer will be cold.

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