(54) Assuming they have the same budget (or, to use a contemporaneous term, \"pocket allowance\"), who like: bonnets more, Jane or Lydia? (a) Jane (b) Lydia (55) Using the midpoint method, determine the price elasticity of market demand for bonnets between the prit $5 and $7? (a) -5/7 (b) '1 (c) -7/5 (d) -3/2 (56) Is the market demand curve elastic, inelastic, or unit elastic between these two points? (a) elastic (b) unit elastic (c) inelastic