3. If you were interested in getting your friends true thoughts on a big decision you are considering do you think you are more likely to get honest input from a survey (asking them what they think) or a betting market (asking them to put money at risk to back up their answer)? Why? 4. Calculate the elasticity of the following items: Quantity Quantity | i | e | Dinner 20,000 units 15,000 units 12-pak of $6.00 $4.00 Ramen 42,000 units 51,000 units Noodles Round Trip $1200 $700 Airfare 8,000 units 13,000 units NYC- London 5. Pick a product you are currently purchasing in your weekly/monthly purchases and describe what you think your elasticity for it is and why