Answer all the questions 1.Using appropriate diagrams, explain the five degrees of price elasticity of demand. 2.For each of the following, calculate the elasticity co-efficients and explain their meaning. a)When the price of coffee falls from Rm 0.90 to Rm0.80per cup, the quantity demand for tea also falls from 50 units to 20 uniits. b) When wage rates increase from RM 8 to RM10 per hour, the number of job applicants increases from 200 to 280. c)When the price of cemant in Malaysia increases by 20%, the building contractor reduces the number of constructed apartments from 300 units to 250 units. dj Reduction in the price of entrance tickets toSunway Logoon from Rm30 to RM25 causes an increase in the number of visitors by 25%