Calculate A and B

Problem 2. Suppose that your demand schedule for t-shirts is as follows: 2 points. PRICE QUANTITY DEMANDED QUANTITY DEMANDED (INCOME = P10,000.00) (INCOME = P20,000.00) 300.00 30 45 500.00 26 37 700.00 18 29 900.00 10 20 (a) Use the midpoint method to calculate your price elasticity of demand as the price of t-shirts increases from P300 to P500 and from P700 to P900 if (1) your income is at P10,000.00, and (2) your income is P20,000.00; (b) Calculate your income elasticity of demand as your income increases from P10,000 to P20,000 if the price is P500, and if the price is P900