5) Consider function f(x, y) = x + 2ey - exe2y. Point x = = 0, y = 0.5 is
a) A local maximum b) A local minimum c) A saddle point d) Not a critical point 6) Inverse demand function is as P = 100 - Q³. When quantity is equal to 4, demand is: a) Inelastic b) Elastic c) Unit elastic d) Zero