A) The price of Smart TVs increases by 8% and the quantity demanded decreases by 10%. Calculate the price elasticity of demand coefficient. Is demand elastic, inelastic, unit elastic, perfectly inelastic, or perfectly elastic, or unclassifiable?

B) The price of Krispi Kreme donuts falls from $3 per donut to $2 per donut, and as a result, the quantity of Starbucks coffees demanded falls from 8,000 per day to 4,000 per day. Calculate the cross price elasticity of demand coefficient. (You can use either the point formula or the midpoint formula.) Are these firms' products complementary or substitutes?

C) The advertising elasticity of demand coefficient for a new beer advertisement on free-to-air TV is -2. Was the advertisement a success?

D) In transitioning from the short-run to the long-run, is the price elasticity of supply for toilet paper likely to increase or decrease or remain unchanged? Why?

E) Given that the demand for Mars Bars is price elastic, what happens to the total revenue of Mars Bars suppliers if they increase the price?