4. (15 points) The table below provides the demand schedules for motel rooms at In TheMiddleOfNo Where Town Motel. The demand schedules are provided for different levels of consumer incomes: $40,000 and $50,000. Price, $ Quantity Demanded Quantity Demanded when Income is when Income is $40,000 $50,000 20 24 34 40 20 30 60 16 26 80 12 22 100 8 18 120 4 14 Suppose consumer incomes increase from $40,000 to $50,000. Use this information to answer the following questions: A. (3 points) What is the income elasticity of demand when motel rooms rent for $40? B. (3 points) What is the income elasticity of demand when motel rooms rent for $100? C. (4 points) Are motel rooms normal or inferior goods? Why? D. (5 points) Are motel rooms likely to be necessities or luxuries? Why