no special formatting at all

Bl. The table above gives the demand schedule for snow peas. Use the midpoints formula we used in class. The price elasticity of demand between $6.00 and $7.00 per bushel is . You must show your work to receive credit if your answer is correct. B2. A. Now using the data in the table (above) graph the demand schedule or curve for snow peas. Use graph paper. Label! B/ Now, let's assume this is the immediate market period in the early part of the growing season. Draw the appropriate supply curve. Just sketch it on the graph you made in B2, part A. You don't need the supply data. Label the completed graph. C. After a winter of coronavirus restrictions, people are anxious for the first farmers' market. Veterans of farmers' markets and rookies to farmers' market arrive, ready to buy those peas. Will demand or supply change? What's the determinant? Show the change using a dashed line - - - B3. Using the data in the table (above) if the price of snow falls from $4.00 to $3.00 a bushel, total revenue will (A) , because it's in the (B) range of the straight-line demand curve. SECTION C. (15 points) The article, \"Our Booze is too cheap\" (12 April 2015) is posted on Brightspace/Content/Unit |||. C1. Read the article. Are the authors correct that the price of alcohol could be raised even higher, through appropriate taxes, in order to raise additional revenue for a state government? Use the economic concepts we've studied thus far in your response. (2-3 paragraphs minimum; proofread) The article, \"Peloton Has a Tough Ride Ahead\" (6 Sept 2019) is posted on Brightspace/Content/Unit |ll. C2. Peloton entered the market for home exercise/workouts prior to the coronavirus pandemic. Using the economic concepts we've studied thus far, what is the product/service offered for sale, describe the demand for this product/service. Be sure to include a discussion about elasticity of demand in relation to Peloton's goal to be profitable. New Question C3. In the last few decades there has been a dramatic expansion of small retail convenience stores (such as Kwik Shops, 7-Elevens, Crosby, etc.) although their prices are generally much higher than those in the large supermarkets. What explains the success of the convenience stores? How can they stay in business with higher prices? Using the economic concepts we've studied thus far, how can you explain their existence? SCENARIO: Smaller cities often have an outdoor venue for special events, such as concerts in the summer. Imagine that the economy is postcoronavirus. wuct wen QUANTITV TOTAL TICKET osmuozo REVENUE $13 1,000 $11 1.000 $09 3,000 $07 4,000 $05 5,000 $00 6,000 17. Refer to the above information and assume that seating capacity is 5000 seats. If management charges $7.00 per ticket for a summer concert, there will be: A. no seats available. B. 2000 empty seats. C. 1000 empty seats. D. a cancellation of the event. 18. Refer to the above information and assume the capacity is fixed in the immediate time period at 5000. The supply of the seats for the concert: A. varies inversely with ticket prices. B. is perfectly inelastic. C. is perfectly elastic. D. none of the above. 19. Refer to the above information and assume the venue capacity is 5000. Ifmanagement wanted a full house for the event, It would set price at A, at $7.00 a. at $5.00 C. at $9.00 D. encourage scalpers to sell tickets for more than $9 20. Refer to the above information. If management wanted to maxllnlze total revenue from this concert, it would set the ticket price at: A. S 5.00 B. S 7.00 c. $9.00 D. $13.00 21. When the price of bubblegum is $0.50, Qd is 400 packs per day. When the price falls to $0.40, the Qd increases to 600. Given this information and using the midpoint formula, you know that the demand for bubble gum is: A. Inelastic B. elastic C. unit elastic. D perfectly inelastic. 22. Good friends for a lifetime, six-yearold Calvin and his friend, Hobbes, get up early on a Saturday morning and go to the kitchen for breakfast. Hobbes watches in silence as Calvin eats a bowl of Sugar- Coated Frosted Chocolate Bombs, and then a second bowl, and then another, until the box is empty. The \"econ-speak" to explain Calvin walking around in a caffeine induced haze, unable to focus would best be explained by which theory? A. Not all economic goods should be available to children. B. The law of prices and markets. C. The law of diminishing marginal utility. D. Opportunity costs. 23. Utility is a measure of A. demand. B. output. C. usefulness. D, satisfaction. 24. TRUE or FAISE Diminishing marginal utility means that a consumer is willing to pay less and less for each additional unit ofa good because each additional until adds less satisfaction than the previous unit. 25. The equation for determining total or maximum amount of satisfaction for three goods is: A, Price of Good A = Price of Good B = Price of Good C B. MU/P of Good A = MU/P of Good B = MU/P ofGood C C. MU/P of Good A x MU/P of Good B x MU/P of Good C D, none of the above. 26. "A fall in the price of a good increases the real income or purchasing power of consumers so that they are able to buy more of the product.\" This statement best describes: A. the income effect. B. the substitution effect. C. complementary goods. D. normal and inferior goods