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(a)If the average income in Dammam is I = 25 and the price of milk is = 1, what is in own-price elasticity of demand
(a)If the average income in Dammam is I = 25 and the price of milk is = 1, what is in own-price elasticity of demand of butter at P=100?
(b)If the price of butter is P = 100 and the price of milk is = 1, what is in income elasticity of demand of butter at I=25?
(c) If the price of milk is = 4, what is in own-price elasticity of supply of butter at = 100?
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