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2) Adam makes specialized garden figurines in a small shop on his property,and his monthly total sales revenue is $648 when he charges $18 for

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2) Adam makes specialized garden figurines in a small shop on his property,and his monthly total sales revenue is $648 when he charges $18 for each figurine.One month ,he tried lowering his price to $17,and his total sales revenue that month was $629. On the basis of these data,what is the price elasticity of demand for ADam products?

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2 Check in The table shows the average income of households and the quantity demanded of products M and N at different prices and levels of income. Year Average Income Price of M Quantity of M Price of N Quantity of N Skipped 1 $55, 000 $2.60 114 $22 780 2 55,000 2.90 108 22 750 w 55, 000 2.90 100 31 720 4 65,000 2.90 112 31 740 eBook a) What is the price elasticity of demand for product M between years 1 and 2? Round your answers to 2 decimal places. b) What is the price elasticity of demand for product N between years 2 and 3? Round your answers to 2 decimal places. c) What is the income elasticity of demand for product M between years 3 and 4? Round your answers to 2 decimal places. d) What is the income elasticity of demand for product N between years 3 and 4? Round your answers to 2 decimal places. I e) What is the cross-elasticity of demand of product M for a change in the price of product N between years 2 and 3? Round your

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