From the data shown in Table 5.6 about supply of alarm clocks, calculate the price elasticity of supply from: point J to point K, point L to point M, and point N to point P. Classify the elasticity at each point as elastic, inelastic, or unit elastic. Why is the demand curve with constant unitary elasticity concave? Why is the supply curve with constant unitary elasticity a straight line? The federal government decides to require that automobile manufacturers install new anti-pollution equipment that costs $2,000 pet car. Under what conditions can carmakers pass almost all of this cost along to car buyers? Under