1) At the start of the new year, Adriana finds out that the price of her economics textbook increased from $100 to $120, She along with her classmates plans on purchasing the textbook, but falls from 10 students to 9 students. At the same time, the minimum wage increased from $11.50 to $12.00. What is Adriana's income elasticity?

2) Ernesto is looking to purchase a new vehicle as his income has increased from $2,000 per month to $3,000 per month, so his purchase increases from 0 to 1 vehicle. He see's a new Mercedes Benz that decreased its price from $45,000 to $42,000. What is Ernesto's income elasticity of demand for a Mercedes Benz vehicle?

3) Cris, a dedicated employee at Google just found out that he will be recognized for the employee of the year award, plus an additional pay increase of 10%. He along with several top employees from other states rush to purchase Porsche 911 4S vehicles resulting in a 7% increase in the quantity demanded. What is Cris' income elasticity of demand for a Porsche 911 4S?

4) Jerry, an addict of Jamba Juice finds out about his 3% increase in pay, so he plans on increasing his Jamba Juice consumption by 5% not to mention Jamba Juice's 1% price decrease. However, he plans to decrease his consumption of Tropical Smoothie by 2%. What is Jerry's cross-price elasticity of demand for a Tropical Smooth with respect to the price of Jamba Juice?

5) Matthew is an addicted coffee drinker and proud patron of Starbucks, so he keeps an eye out on the prices of coffee. He finds out that Starbucks increases its price of a grande frappuccino from $3.50 to $4.00, so he expects many patrons to consume less grande lattes from 2 to 1 per week, and to find an alternative. He lives by a Coffee Bean and Tea Leaf caf and his opportunity for a grande frappucino is a medium ice blended. He plans to consume more medium ice blended drinks increasing his quantity demanded from 1 to 5 per week. What is the cross price elasticity of demand for a medium ice blended drink with respect to a grande frappuccino's price?