Answer the question below

Question a . The schedule below shows the demand for goods A, B and C in year 2018 and 2019. Quantity Demanded Year Consumers A B C Income 2018 40 25 50 3000 2019 36 30 50 3500 Calculate the income elasticity of demand for the three goods when income increases from RM 3000 to RM3500. Good A Good B Good C ii) State the type of each good and give an example. (3 marks) Good Coefficient IED Type of Good Example A B C b. Differentiate the FOUR (4) characteristics of monopoly and oligopoly