Question: 2. a) You are given market data that says when the price of pizza is 4, the quantity demanded of pizza is 60 slices and

2. a) You are given market data that says when

2. a) You are given market data that says when the price of pizza is 4, the quantity demanded of pizza is 60 slices and the quantity demanded of cheese bread is 100 pieces. When the price of pizza is 2, the quantity demanded of pizza is 80 slices and the quantity demanded of cheese bread is 70 pieces. i. Can the Price-Elasticity of Demand (PED) be calculated for either good? (10% of marks for this question] If yes, calculate the PED and briefly discuss if the demand is elastic or inelastic to price. [30% of marks for this question]

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