1. A 5% decrease in the price of wedding ring led to a 3% increase in its demand. Find the price elasticity of demand and the type of elasticity. 2. If the price of candy went down from 1.10php to 0.90php and as a result, the demand of increased from 19 packs to 21 packs. Find the price elasticity of demand and the type of elasticity. 3. The general income level is 5,000 and consumers quantity demanded is 10,000. Assume that income is increased to 15,000 and quantity demanded is increased by 100%. Find what is missing in the problem and interpret the result. 4. Price for cooking oil is 20.00 per bottle and the quantity demanded of margarine is 250.00. An creased of quantity demanded on margarine for 50% and the price per bottle of cooking oil becomes 50.00. What is missing in the problem. Interpret the result of the coefficient. 6. Zadie went to town to buy 1 dozen of eggs at 5.75 pesos each. However, Zadie still wants to buy 15 pieces more if a big discount of 60 centavos per piece favored him. Answer the questions that follows: a. Compute the elasticity from the original value b. What is the discounted price per unit . how many dozens of eggs can he buy if there was a discount. d. Construct the price and gquantity schedule. e. What is the price per piece after the discount