1. Consider the following demand schedule for pepperoni pizzas among all restaurants in Brooklyn in 2019 & 2020. Price Qty (2019) Qty (2020) $10 11 million 11.3 million $11 9.5 million 10.6 million $12 8.5 million 9.1 million $13 7 million 8.4 million $14 6 million 7 million $15 4 million 5.2 million $16 3.5 million 4 million Calculate demand elasticity for both years as the price changes from: (i) $10 to $12 (ii) $16 to $14 (iii) Income in 2019 = $50,000 and income in 2020 = $60,000. Calculate income elasticity of demand when price is $13