1.Suppose a 10 percent increase in income results in a 15 percent decrease in the quantity demanded of beans.What is the income elasticity of demand for beans? What type of good beans are? (normal good, inferior good or necessity good)

The income elasticity is ( ) and the good is ( )

2.Suppose that the quantity demanded of peanut butter increases by 4% when the price of jelly decreases by 2%.Calculate the cross-price elasticity of demand between peanut butter and jelly. What is the relationship between the two products? (whether substitute or complementary)

The cross-price elasticity of demand between peanut butter and jelly is( ), the relationship is ( )