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New and Revised Information for Questions 41 through 45 41. Assuming no change to demand, if the annual supply of feed corn from the October harvest is forecast to be 960 bushels, what will be the price of feed corn when the harvest is completed in early October? a. $2.58. b. $2.52. $2.44. d. $2.35. $2.29. 42. With reference to question 41, what will be the prices in November, December, January, February, March, and April? Month Nov Dec Jan Feb March Apr a. $2.39 $2.49 $2.59 $2.69 $2.79 $2.89 b. $2.45 $2.55 $2.65 $2.75 $2.85 $2.95 C. $2.54 $2.64 $2.74 $2.84 $2.94 $3.04 d. $2.62 $2.72 $2.82 $2.92 $3.02 $3.12 $2.68 $2.78 $2.88 $2.98 $3.08 $3.18 42. With reference to questions 41 and 42, what will be the prices in May, June, July, August, and September? Month May June July Aug Sept a. $2.99 $3.09 $3.19 $3.29 $3.39 b. $3.05 $3.15 $3.25 $3.35 $3.45 C. $3.14 $3.24 $3.34 $3.44 $3.54 d. $3.22 $3.32 $3.42 $3.52 $3.62 $3.28 $3.38 $3.48 $3.58 $3.6843. With reference to questions 40 through 42, what will be the quantity demanded for the months of October, November, December, January, February, and March? Month Oct Nov Dec Jan Feb March a. 81.76 81.44 81.12 80.80 80.48 80.16 b. 81.94 81.62 81.30 80.98 80.66 80.34 C. 82.19 81.87 81.55 81.23 80.91 80.59 d. 82.48 82.16 81.84 81.52 81.20 80.88 e. 82.67 82.35 82.03 81.71 81.39 81.07 44. With reference to questions 40 through 42, what will be the quantity demanded for the months of April, May, June, July, August, and September? Month Apr May June July Aug Sept q. 79.84 79.52 79.20 78.88 78.56 78.24 b. 80.02 79.70 79.38 79.06 78.74 78.42 C. 80.27 79.95 79.63 79.31 78.99 78.67 d. 80.56 80.24 79.92 79.60 79.28 78.96 80.75 80.43 80.11 79.79 79.47 79.15 45. Suppose the harvest was forecast to be 900 bushels and the increase to 960 was due to unexpected favorable weather, or a supply shock. With the different prices and quantities you calculated for the month of October, what is the elasticity of demand for feed corn in October using the midpoint method? a. -0.10 b. -0.11 -0.14 -0.16 -0.19