.0. iweb.langara.ca For the following situations identify the relevant elasticity measure and then calculate the value for the elasticity using the information provided and the relevant elasticity formula from the textbook (same as New Folder With Items discussed in class). Assume that each of the changes in the various scenarios are, all else equal (ceteris paribus) changes. Anvi Agarwal- Situation 1: x2019-.-1-3 xlax As the price of beef declines from $1.50 per pound to $1.40 per pound, the amount of beef sales per day increases from 6000 pounds per day to 6500 pounds per day. sunday Situation 2: At the average income of consumers in the market for professional soccer tickets decreases from $42,000 per year to $40,000 per year, the quantity of tickets purchased for soccer games decreases from 32,000 to Juwl Aga 31,500. EX2019- Situation 3: Increasing demand for condominiums in Metro Vancouver has raised average prices from $250,000 to $300,000 over the past 5 years. In reaction to the price increases, developers have been building more condominiums, which has increased the number of condominiums in Metro Vancouver by 12% over the last five years. Situation 4: As the price of beef declines from $1.50 per pound to $1.40 per pound, the amount of chicken sales increases from 4000 pounds per day to 4300 pounds per day