a. Google and Apple sell many of the same apps. Why do you think the price elasticity of demand for google play store and apple store are different? Consider the expensive spirits and the cheap spirits. Are the price elasticities of demand what you would expect? Explain. Also explain why the price elasticities of demand are so different from each other. C. Suppose you work for a candy company. How can you use the information about the price elasticities of chocolate strategically to increase revenues? (I am not asking about using the price elasticities of chocolates to set prices, I am asking about using the price elasticities of chocolates to develop other strategies for your company.} d. Why is organic milk more elastic than non-organic milk? Why are organic eggs not more elastic than non-organic eggs? What would you expect the cross-price elasticity between organic and non-organic milk to show? Be specific and consider the cross price if we change the price of organic and also if we change the price of non-organic milk. 2. (35 points. Limit 2 pages total. Graphs do not count towards this limit.) Read the article from the New York Times "Retailers Latest Headaches: Shutdowns at Their Vietnamese Suppliers". a. For the sake of simplicity, let's consider the market for jeans. Based on the information in the article, draw a supply and demand graph that illustrates what is happening in the market for jeans. Make sure to label your graphs and briefly explain any shifting of curves and/or changes in prices and quantities b. What will happen to the total revenue of Vietnamese clothing manufacturers? What will happen to revenue of companies like Everlane and Urban Outfitter? How do supply elasticities for jeans and demand elasticities for jeans influence your answer? Explain. (You may assume that supply and demand are linear) C. Based on your analysis, compare the impacts of this supply-chain issue on the following: consumers, Vietnamese garment workers, and Urban Outfitter. Who is impacted the most? (Think analytically about prices, quantities, and take into account any mitigating responses by the affected groups.) 3. (25 points. Limit: 1/2 page per part.) Explain what role opportunity cost plays in the following situations