Refer to the information provided in Figure 7.1 below to answer the following question(s).  Figure 7.1Refer to Figure 7.1. This corn producer produces 100 bushels of corn and sells each bushel at $5. The cost of producing each bushel is $2. This corn producer's total revenue is ________ and profit is ________.

Equity investors in real estate expect to receive a return on their investment through the collection of ________ and through ____________________.

Fill in the blank(s) with the appropriate word(s).

Suppose a 4 percent increase in income results in a 2 percent decrease in the quantity demanded of a good. Calculate the income elasticity of demand for the good and determine what type of good it is

What will be an ideal response?