Please answer in full sentences. Thanks!

(a) Give an example of an elastic good, an inelastic good, a complementary good, and a substitute good. (b) Define comparative statics. (c) What is the difference between the short run and the long run? (d) How do consumers make their decisions? Hint: think graphically. (e) Define the preferences assumptions. (f) Explain the difference between perfect complements and perfect substitutes. Give an example of each. (g) Explain the difference between a neutral and a bad. Give an example of each. (h) Define utility. What is the difference between cardinal and ordinal utilitiy? (i) Explain the difference between normal and inferior goods. Give an example of each. (j) Draw an Engel curve for a Cobb-Douglas function. (k) Define opportunity costs and give an example. (1) Explain the difference between isoprofit, isocost, and isoquant. Graph these. (m) Assume you've been given the following function: q = LO.?KU.6. Calculate the returns to scale. (n) Graph a typically average total cost, average variable cost, average fixed cost, and marginal cost. (o) Define each market type we talked about. (p) Explain cap and trade. Why is it important? (q) Explain what a monopoly needs to price discriminate. What types can they choose from? (r) Explain how De Beers has been able to function as a cartel for so long. (s) Beyond price discrimination, how can firms try to capture more consumer surplus? (t) What types of games can we play? What setup/solution does each have