b) What do you think a reasonable approximation of the marginal cost of Katalina is? Why? c) Given your previous answer, what is the elasticity of demand, during the period between A and B, when the price is equal to $10? Explain your reasoning. d) How would you interpret this elasticity, if you had to explain what it meant to someone who had never taken an economics class? 8) In the period between B and C, Katalina sold 9 Yachts an outcome referred to by the president of Katalina, as 'Pathetic. The worst on record. Beyond abysmal.'. What is a reasonable approximation of Katalina's (economic) prot during this period? Explain your reasoning. f) In the period between B and C, Flying Fifteen sold 850 Yachts * widely regarded as an outstanding sales outcome by historical standards. What is a reasonable approximation of Flying Fifteen's (economic) prot during this period? Explain your reasoning. g) Account for the price movements during the time period between C and D, using a model / models discussed in class