can you please provide some details regarding this problems

Question 1: A Study has shown that if Taxi fare per kilometer increased from C$1.40 to C$ 1.60, the number of trips will decrease from 9000 to 8500 per day. a) Calculate the midpoint demand elasticity for taxi trips in Toronto. b) Specific whether the demand for Taxi is elastic or inelastic. (3 mark) Question 2: the demand function for product X is defined as Qx = 500 4Px. a) By creating a demand schedule, draw the demand curve. b) If the price increases from 20 to 25, calculate the elasticity. c) Specific demand whether the demand for X between price 20 and 25 is elastic or inelastic (4 mark) Question 3: A research on household behavior in an urban area has shown that when the average income of households is C$35,000 per year their average consumption of Margarine, Butter and Bread is respectively 40, 5, 60 kg per year. The same research showed that if the average households income increases by 15% to C$ 40,250 their average consumption of the three products will change to 36, 7, and 62 kg per year. a) Calculate the income elasticity of each product. b) Specify which product is normal or inferior. (3 mark) Question 4: Demand a supply function for product A is defined as follow: P. = 120 - 3Q.. P. = 5Q a) Calculate the equilibrium price and quantity for Product A. b) By creating a demand and supply schedule, draw the demand and supply curve. c) Calculate the supply elasticity and define whether the supply is elastic or inelastic. d) Calculate the consumer and supplier and total surplus and total on equilibrium. (5 mark)