1.Find the following elasticities from the USDA Web site. (Related to Application 4 on page 447.) a. Organic broccoli in the United States: own price elasticity = _________; expenditure (similar to...

1.Find the following elasticities from the USDA Web site. (Related to Application 4 on page 447.)

a. Organic broccoli in the United States: own price elasticity = _________; expenditure (similar to income) = _________; cross-price of conventional broccoli = _________. If improved production techniques decreased the equilibrium price of organic broccoli by 10 percent, the quantity of organic broccoli would increase by _________ percent and the quantity of conventional broccoli would decrease by _________ percent.

b. Soft drinks in the United States: own price (Marshallian is regular demand) = _________. If a tax on soft drinks increased the equilibrium price by 10 percent, the quantity of soft drinks would decrease by _________ percent.

c. Fish in Tanzania. Own price = _________; income = _________. If the price of fish increases by 8.37 percent, the quantity demanded would decrease by _________ percent. If per capita income increases by 20 percent, the quantity of fish demanded would increase by about _________ percent.