Consider the following demand function for airline tickets (quantities are in thousands): upper q equals 10 minus 0.1 p subscript x baseline plus 0.4 p subscript y baseline plus 0.25 p subscript z baseline plus 0.005 upper y, where px = price of an airline ticket py = price of a bus ticket q = quantity demanded pz = price of gasoline y = consumer income according to the above equation, airline tickets and bus tickets are ▼ goods. if, in equilibrium, the cross-price elasticity between airline tickets and gasoline is 1.9; when the price of the gasoline increases by 1%, the quantity demanded of airline tickets increases by nothing% (enter your response rounded to two decimal places).

Ardmore farm and seed has an inventory dilemma. they have been selling a brand of very popular insect spray for the past year. they have never really analyzed the costs incurred from ordering and holding the inventory and currently fave a large stock of the insecticide in the warehouse. they estimate that it costs $25 to place an order, and it costs $0.25 per gallon to hold the spray. the annual requirements total 80,000 gallons for a 365 day year.a. assuming that 10,000 gallons are ordered each time an order is placed, estimate the annual inventory costs.b. calculate the eoq.c. given the eoq calculated in part b., how many orders should be placed and what is the average inventory balance? d. if it takes seven days to receive an order from suppliers, at what inventory level should ardmore place another order?