1. Fill in the missing amounts in the following table: Product % change in % change in Price Elasticity price quantity Demand for pizza Demand for Milk +10% -15% ? -1.0 - 129 ? +15% +1.2 Supply of Meat Supply of Dress -20% -50% ? 2. A department store has estimated the demand curve for a popular brand of women's dress shoes as a function of price. Use the table to answer the question that follow. Points Price per pair Dress shoe sales per week A R0 18 100 B R015 200 C R02 300 D RO9 400 E RO6 500 F RO3 600 a Calculate demand elasticity between points A and B, between points C and D, and between points E and F. b. If the store currently charges a price of R012, then increases the price to R015, what happens to total revenue from shoe sales? 3. Suppose the market demand for mangoes in the Sultanate of Oman is given by Qa= 300 - 20 P and the market supply for mangoes is given by Q = 20 P - 100, where P=price (per kg mangoes). a Graph the supply and demand schedules for mangoes using $5 through $15 as the value of P. b. In equilibrium, how much mangoes would be sold and at what price? e. What would happen if suppliers set the price of mangoes at $15? Explain the market adjustment process