Please answer a, b, and c. Thank you in advnace.

UIDP U HUIJ! Why or why not? 8. During 1993, the Japanese yen appreciated by 11% against the dollar. In response to the lower cost of its main imported ingredients-beet, cheese, potatoes and wheat for burger bunsMcDonald's Japanese affiliate reduced the price on certain set menus. For example, a cheeseburger, soda marked down to X41 ven lowered the co a. How much of tify the price cut fi soda, and small order of french fries were to 410 from 530. Suppose the higher d the cost of ingredients for this meal by 30 ch of a volume increase is necessary to jus- previou the price cut from #530 to 4410? Assume that the evious profit margin (contribution to overhead) for ameal was 220. What is the implied price elas- ity of demand associated with this necessary rise in this meal wa ticity of demand demand? h Suppose sales volume of this meal rises by 60%. What will be the percentage change in McDonald's dollar profit from this meal? c. What other reasons might McDonald's have had for cutting price besides raising its profits? Loon Lananen 1 1AA