1. romo's income elasticity of demand for iced coffee is e=-3. if romo gets 3% cost of living adjustment, what happens to his demand for iced coffee 2. the demand function for cookies is Q =12-2p, for what price is elasticity equal to 1 3. will this firm shutdown Q=5, price=$30, MC=$10, AVC=$25, AFC=$3 4. at what quantity will the marginal cost curve cross the average cost curve C=10q-12q^2+2q^3 , 5. if the government levies a tax on a good with inelastic demand relative to supply ,the majority of the tax will be paid by