2. Assume that the coefficient of price elasticity of demand for bananas is unitary. Suppose the quantity the quantity demanded for of bananas falls from 800 to 600. Compute the percentage change in price?Use the table below to answer questions. Price of X Quantity of X Price of Y Quantity of Y Income $ 100.00 1000 S 200.00 800 $ 1,200.00 $ 160.00 640 $ 400.00 800 $ 1,800.00 1. Compute the coefficient of price elasticity of demand for product X? 2. Is the demand for product X elastic or inelastic? 3. Compute the coefficient of cross-price elasticity of demand between X and Y? 4. Based on your answer in (3) determine whether X and Y are complements or substitutes? 5. Compute the coefficient of price elasticity of product Y? 6. Compute the coefficient of income elasticity of demand for X? 7. Compute the coefficient of income elasticity of demand for Y? 8. What type of income-defined products are X and Y?3. Assume the following: Unit tax on a product is $3.00 Pretax equilibrium mice and quantity are $10.00 and 10,000I units respectively Posttax equilibrium price and quantity are $11.50 and 8,500 units respectively Coefficient of mice elasticity of demand and supply are both equal to 2.5 a. How much tax revenue I.vill the government raise with the imposition of a unit tax of 53.00? b. What is the size {i.e., the dollar amount] of the total tax burden? c. Compute the amount of taxes paid by the seller? d. Compute the coefficient of price elasticity of demand? 6. Compute the coefficient of price elasticity of supply? f. Compute the aftertax total revenue received by the seller? Initial Post Is the following statement true or false? The coefficient of price elasticity of demand for bathing soap is larger than the coefficient of price elasticity of demand for Dove Skin Moisturizing soap. Take a position and support it using specific examples, principles, or concepts from the text and from the videos. NOTE Your initial post should not exceed 350 words