They are cash and other assets expected to be converted into cash, sold, or consumed either in one year or in the operating cycle, whichever is longer.

In the long-run, price elasticity for a good tends to increase. This is because over time, consumers are able to discover substitutes for the good and thus switch their consumption elsewhere under a price increase. If in the long run, the price elasticity for electricity is unitary, it is likely that the price elasticity in the short run was inelastic.

A call is at the money when its exercise price is equal to the current price of the asset. In this case, both the exercise price and the asset price is $30.
A covered call writer refers to an investor who owns the underlying asset and simultaneously sells (or writes) a call option. If the investor is writing the call, he will receive a premium of $2.50.
Should the asset price close above $30 before expiration, the writer of the call will have to deliver his stock. He loses the stock, but walks away with the premium he made.
On the other hand, if the stock price closes below $30, the writer will not be called upon to deliver the stock. However, the dropping stock price implies that he is losing value on the stock. If the stock price drops to $27.50, he has lost $2.50 on his stock; but since he made $2.50 selling the call in the beginning, he breaks even. Should the stock price drop below $27.50, his losses will offset any money he made selling the call. Hence, $27.50 is the break-even point.