Question 7 Small mom and pop firms like inner city grocery stores, sometime exist even though they do not earn economic profits. How can you explain this? Question 8 What would the gasoline price elasticity of supply mean to UPS or FedEx? Question 9 Consider demand for ice-cream if the price for a substitute good increases and the price for a complement good increases, can you tell for sure what will happen to the demand for ice cream? Explain your