Identify the relevant elasticity concept for the given event. Then, compute the measure of elasticity using average prices and quantities in your calculations. In all cases, assume that these are ceteris paribus changes. (Type integers or decimals rounded to two decimal places as needed.) Part 2 a. When the price of concert tickets is reduced from $14.00 to $11.00, ticket sales increase from 1200 to 1350. The relevant concept is price elasticity of demand . This measure of elasticity is 0.49. Part 3 b. As average household income in Canada increases by 10 percent, annual sales of BMWs increase from 57 comma 000 to 69 comma 000. The relevant concept is income elasticity of demand . This measure of elasticity is 1.90. Part 4 c. After a major failure of Brazil's coffee crop sent coffee prices up from $3.00 per kilogram to $4.50 per kilogram, sales of tea in Canada increased from 5500 kg per month to 6500 kg per month. The relevant concept is cross elasticity of demand . This measure of elasticity is 0.42. Part 5 d. An increase in the world demand for pulp (used in producing newsprint) increases the price by 15 percent. Annual Canadian production increases from 7 million tonnes to 10 million tonnes. The relevant concept is price elasticity of demand cross elasticity of demand price elasticity of supply income elasticity of demand . This measure of elasticity is enter your response here