QUESTION 12 The Cozy Chair Company believes it can sell 200 chairs at $200 per chair or 300 chairs at $150 per chair, Using the midpoint formula, they calculate the price elasticity of demand as and consider their demand For the first blank, round to one decimal place "For the second blank, choose between "elastic" and "inelastic" QUESTION 13 The movement from D to D' could be caused by a decrease in price of a substitute a decrease in price of a complement an increase in price a technological advance QUESTION 14 Millions of tons of strawberries (per month) 1,000 B 950 OF C 800 D 550 Submarines (per month) Which points on the PPF for strawberries and submarines are feasible and efficient? Answer with spaces only between letters