Suppose the demand (in thousands) for a toaster is given by 100p−2, where p is the price in dollars charged for the toaster. A. If the variable cost of producing a toaster is $10, what price maximizes profit?
B. The elasticity of demand is defined as the percentage change in demand created by a 1% change in price. Build a data table that shows how the demand for toasters varies when the price increases by consecutive 1% increments. Start with a price of $18. Does the elasticity depend on price?C. Would this be true if the demand for toasters were linear in price?

1. which one of the following would be an example of a supply-side market failure? a. a gas station is slowly leaking diesel fuel from its underground tanks, and after the leak is discovered, the business immediately cleans up the pollution at its own expense. b. a gas station is slowly leaking diesel fuel from its underground tanks, but the state uses taxpayer money to clean up the pollution rather than requiring the business to pay. c. your business wants to attract repeat customers by putting on a customer-appreciation picnic at a public park, but you decide not to because you couldn't prevent noncustomers from consuming the food and entertainment you provided. d. everyone rushes to the local retail outlet at midnight on the day of the release of a new video game console, and the store runs out before everyone is able to buy one.