Answer with all steps please!!

50 100 1 150 4. (20 points) a. Would you expect tomatoes to have elastic or inelastic demand? Why? b. Suppose that when the price of tomatoes increases by 7% the quantity demanded of tomatoes falls by 4%. What is the price elasticity of demand? Is the demand for tomatoes elastic or inelastic? c. Due to this price increase, will revenue earned from selling tomatoes increase or decrease? d. If median income rises by 3% and the quantity demanded of tomatoes increases by 2%, what can we say about the demand for tomatoes? Are they normal goods? Luxury goods