Answer each of the questions below in short-answer format. Write your responses in complete sentences. Your answers to each question should include 2-3 paragraphs.
Be sure to carefully read each question to ensure that each component is answered with the appropriate depth and detail. Your answers should be free of spelling and grammatical errors. When you use reference material, you must properly cite your sources with in-text citations. You must also include a reference list. All documentation must be rendered in APA citation style.
1. What is the price elasticity of demand? How is the price elasticity of demand calculated?
2. Why is time such an important determinant in the elasticity of supply? Is time also important in determining price elasticity of demand? Explain
3. What is marginal utility? Why is the term marginal important in utility analysis?
4. Describe and explain the three principal methods of financing that are used by corporations.
5. What is the random walk theory? Explain.