LE TITLE TITLE A Paragraphs loading 1 Effects Colors Fonts Set as Defar Document Formatting 3. The owner of Grand Central Bookstore is looking into the sales of its Health & Fitness magazine section. She finds that her equilibrium is at 800 magazines per month sold at an average price of $4.75 per magazine. When the price of these Health & Fitness magazines rose to $5.00 each, the quantity sold fell to 725 magazines per month, while the quantity supplied to her increased to 900 a month. From the scenario described, answer the questions below. a. Draw an appropriate graph for Grand Central's Bookstore's to illustrate this change in the Health & Fitness magazines market position when the price rises to $5.00 b. Calculate the price elasticity of demand for the Health & Fitness magazines between prices $4.75 and $5.00. Is it elastic or inelastic? How do you know? c. Calculate the price elasticity of supply for the Health & Fitness magazines between prices $4.75 and $5.00. Is it elastic or inelastic? How do you know based on your answer? d. The owner also noticed that when she ran a 20%% discount on the Health & Fitness magazines the quantity of nutritious snack bars sold at the checkout register increased by 15%. Calculate the cross elasticity of demand between the two goods. Based on your answer, are they substitutes or complements? Explain why