Question: Name: AG EM 102 Lesson 04 Homework Please make sure to show your work. Quantity Retail Price Marketing Cost Farm-level Demand Price Consider the following

Name: AG EM 102 Lesson 04 Homework Please make sure to show your work. Quantity Retail Price Marketing Cost Farm-level Demand Price Consider the following market: Retail Demand: Q :20\" PR Farm Supply: Q =1+'5PF Marketing cost per unit: MC = $4 1. Fill in the table below to obtain the points on the derived demand curve. 2. Draw a graph of the market showing all relevant curves and functions on graph paper. meymmm 3. What is the equilibrium quantity? What is the larm price at this quantity? What is the retail price at this quantity? 4. What is the retail elasticity of demand at the market equilibrium? 5. What is the iarm-level elasticity of demand at the market equilibrium? Important: show all your work. including any equations you use. for full credit

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