If the demand curve for coconut oil is expressed as q=1200-10p+16p_p+0.2y, where q is the quantity of coconut oil demanded in thousands of metric tons per year, p is the price of coconut oil in cents per pound, p_p is the price of palm oil in cents per pound and y is the income of consumers. assume that p is initially 50 cents per pound, p_p is 30 cents per pound, and q is 1300 thousand metric tons per year. the income elasticity of demand for coconut oil is.

Carmen’s beauty salon has estimated monthly financing requirements for the next six months as follows: january $ 9,000 april $ 9,000 february 3,000 may 10,000 march 4,000 june 5,000 short-term financing will be utilized for the next six months. projected annual interest rates are: january 9 % april 16 % february 10 may 12 march 13 june 12 what long-term interest rate would represent a break-even point between using short-term financing and long-term financing?