You are managing a factory that is capable of producing a maximum of 100 products per day. If you use overtime labor you can produce up to 150 products per day. Due to equipment maintenance requirements, 150 products per day is the absolute maximum that you can produce. At present, there is a recession - business is slow and you are producing only 80 products per day. Answer and explain thoroughly the below questions. Explain with words and graph:

1. Suppose the sales increase and so does its price. Your employer asks you to increase production from 80 to 100 products. Would the term elastic or inelastic best describe your ability to supply more? Why?
2. Suppose there is a boom, unemployment is low and the sales and price of your product continue to increase. Your employer asks you to increase production from 100 to 150 per day. How will the elasticity of your supply change and why? What are the implications of this change for the price?
3. Suppose that the sales and the price increase even further, and your employer request production of 180 per day. What has happened to the elasticity of your supply and why? What are the implications of this for the price?
4. What can be done to overcame the problems in part c?