Question: answer asap Table below shows the quantity demanded for Good A and B Price of Good A Quantity Demanded Quantity Demanded Income per month (RM/kg)

answer asap

answer asap Table below shows the quantity demanded for Good A and

Table below shows the quantity demanded for Good A and B Price of Good A Quantity Demanded Quantity Demanded Income per month (RM/kg) for Good A (kg) for Good B (kg) (RM) 2.00 1000 1500 5000 4.00 800 1200 3500 6.00 600 1000 2000 8.00 500 900 1400 10.00 400 800 1300 12.00 200 600 1000 a Calculate price elasticity of demand for Good A if price of A increases from (4 points) RM4.00 to RM6.00. State whether demand is elastic or inelastic and draw the diagram to show the elasticity. b. Calculate the cross elasticity of demand for good B when prices of good A (2 points) increases from RM4.00 to RM10.00. C. What is the relationship between good A and good B? Give an example of (2 points) both goods. d. What is income elasticity of demand for good A when income increases (2 points) from RM1400 to RM3500 a month? e. Based on d, what is the type of good A? (1 point) (Total : 11 points)

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