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Suppose that your demand schedule for DVDs is as follows: 15 marks Price Quantity Quantity Demanded Demanded (income = $10,000) (income = $12,000) 40 DVDs 50 DVDs a. Use the midpoint method to calculate your price elasticity of demand as the price of DVD's increases from $8 to $10 if (i) your income is $10,000 and (ii) your income is $12,000. b. Calculate your income elasticity of demand as your income increases from $10,000 to $12,000 if (i) the price is $12 and (ii) the price is $16