Question: 1. An instructor allows a calculator in exams (midterm and final), but only the simplest calculators are allowed (no functions, no memory, etc., only

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1. An instructor allows a calculator in exams (midterm and final), but only the simplest calculators are allowed (no functions, no memory, etc., only 4 basic operations and power/root; these sell in stores for $1.00-$1.50). Would you expect the demand for these calculators by the students in this instructor's class to be elastic or inelastic? Explain why. (4) There were 5 empty seats in our classroom during the last week's class. 2. How do these empty seats imply inefficiency? Explain the best you can. (3) 3. Why is this inefficiency not corrected (i.e., why don't we [teachers, college administration, students] do something to make the situation more efficient? (3)

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