Please answer the following questions:

a. The table below gives the quantity of good X demanded and supplied at various prices. Price (dollars) Quantity Demanded (units) Quantity Supplied (units) 30 1 3 20 3 3 10 4 3 i. Is the demand for good X relatively elastic, relatively inelastic, unit elastic, perfectly elastic, or perfectly inelastic when the price decreases from $30 to $20 ? Explain. ii. Is the supply of good X relatively elastic, relatively inelastic, unit elastic, perfectly elastic, or perfectly inelastic when the price decreases from $30 to $20 '3 Explain. iii. If a perunit tax is imposed on good X, how is the burden of the tax distributed between the buyers and sellers of good X? b. Assume that the income elasticity of demand for good Y is 2. Using a correctly labeled graph of the market for good Y, show the effect of a signicant increase in income on the equilibrium price of good Y in the short run