According to the law of supply, if buyers are willing to pay more, sellers are willing to supply more. The price elasticity of supply is a measure of how much sellers are able to adjust the quantity supplied in response to changes in price. Read the following scenario and answer the corresponding questions.

World renowned fashion designer Alvin Stein died recently. His company, Alvin Stein Designs has released the last 100 pair of his signature ASD Original jeans. The pattern and design sketches for the ASD Originals were buried with Alvin, per his last wishes. The current price of a pair of ASD Originals is $10,000.

What is the current price elasticity of supply for a pair of ASD Originals? Explain your answer.

Five years after his death, Alvin’s sister, Jan released an exact replica of the signature jeans, called ASD Original 2.0, priced at $5000. How might this affect the demand for the remaining 50 pairs of ASD Originals, still retailing for $10,000?

Ten years after Alvin’s death, a vault is discovered containing 1000 pairs of ASD Originals. How might this discovery affect the demand for the remaining 30 pairs of ASD Originals? How might this affect the price elasticity of supply for the ASD Original 2.0 jeans?

Match the various steps in the creative process undertaken by the ad agency for developing the campaign for wpu, to the steps in young's model of the creative process.creative process in developing wpu's campaignyoung's modelafter intensive analysis of the data and several rounds of brainstorming, the agency executives decided to take a break from this project (the wpu campaign), and instead work on a different client's project before tackling the wpu project again.using a combination of animatics and storyboards, the ad agency conducted research with a representative sample of sixty target consumers to pretest the campaign theme and the creative execution.during a brainstorming session in the creative department, a copywriter's suggestion for a slogan for wpu was recognized as an excellent central idea that could drive the campaign for wpu.the account planning, account management and creative departments at the ad agency had a series of meetings and brainstorming sessions to discuss the creative brief and the results of all the primary and secondary research done with the target consumers.the account planning and the account management groups at the ad agency conducted primary research with a representative sample of the target segment and also studied secondary research data to gain insights required for the campaign development process.

Chance company had two operating divisions, one manufacturing farm equipment and the other office supplies. both divisions are considered separate components as defined by generally accepted accounting principles. the farm equipment component had been unprofitable, and on september 1, 2018, the company adopted a plan to sell the assets of the division. the actual sale was completed on december 15, 2018, at a price of $600,000. the book value of the division’s assets was $1,000,000, resulting in a before-tax loss of $400,000 on the sale. the division incurred a before-tax operating loss from operations of $130,000 from the beginning of the year through december 15. the income tax rate is 40%. chance’s after-tax income from its continuing operations is $350,000. required: prepare an income statement for 2018 beginning with income from continuing operations. include appropriate eps disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)

The cost of the beginning work in process inventory was comprised of $3,000 of direct materials, $10,000 of direct labor, and $10,000 of factory overhead. costs incurred during the period were comprised of $15,000 of direct materials costs, and $100,000 of conversion costs. the equivalent units of production (eup) for the period were 9,000 for direct materials and 6,000 for conversion. the costs per eup were: