Q1 When looking at the role of tax cuts, you will find out that this can be effective for our economy. One of the aspects of having a tax cut is that it is assumed to stimulate our spending level for consumers. Why are consumers the most important sector in our economy? "

Q2. In the subsequent table, compute the elasticity coefficient between each of the seven prices also indicate whether the character of demand is Elastic (E), inelastic (I), or unitary (U) at that midpoint. Also indicate the Total Revenue for each price. Round to the nearest 1/100. Utilize the Midpoint Formula