Economics Homework Help

Request: This task requires to complete the attached
template. You need to answer the questions directly on that file, and to
maintain the cover page. In total, this request has 3 questions which
needs to be answered. As it is stated in the file, the first two are short
answers (stay on topic, and briefly answer the question as indicated) while the
third one requires some calculus. For the third question please include each
step of your calculus, such as the formula applied, how you applied it, the
result and its meaning. This task is a short one for someone who is familiar
with the subject. Where needed, please use academic references to support your
statements.