1.Assume an income of $50,000 and spending of $10,000 on leisure, $20,000 on meals and $20,000 on medical care.If the income elasticity of demand for leisure is 1.0, the income elasticity of demand for meals is 0.5 and the income elasticity of demand for medical care is 1.5:

a.What will be the spendingon each itemif income doubles?

b.What has happened to the share of the budget dedicatedto each of these?