Assume that apples are an inferior good. draw a perfectly competitive market for apples and a firm selling apples in the long run equilibrium where price is $10 and the firm’s equilibrium quantity is 50. explain the following situations graphically and in words (draw and label side-by-side graphs for each). a. explain what happens in the short-run if incomes increases by 15%? ( /5)

Which of these best describes the function of a "super pac"? a)create bi-partisan legislation that can become law b)organization meant to reign-in spending of political candidates during election cycles c)promote the interests of supreme court justices without breaking specific tampering laws d)raise funds through donations from corporations or individuals to support or oppose specific political candidates