Answer the following questions on price elasticity of demand.

a.The price elasticity of demand for football match tickets is -0.50. What happens to the quantity of tickets sold if ticket prices rise by 5%?

b.The price elasticity of demand for fried chicken is -1.12. What happens to expenditures on fried chicken following a price increase?

c.Suppose the demand for painkiller pills is given byQ^D= 1,000. What is the price elasticity of demand atP= 100?

d.What will happen to the price elasticity of demand if there are more substitute goods available?

e.Give two reasons to explain demand is less elastic with respect to price?

Add academic reference to support answer and explanation.