Assessment Compute for the elasticity. Show your Solution. (5 points each) 1. Product A has an introductory price of P120.00. After 3 months of business operation, the owner decided to increase the price by 8 % which caused the demand to decrease from 495 to 450. 2. The price of pork increased from 1240.00 to P280.00. Because of this, Mrs. Cruz, a cafeteria owner, decided to offer more chicken dishes than pork dishes. Her demand for chicken increases to 50 kilos per week from 35 kilos before the price increase of pork. 3. Like other children, Mr. Santos' daughters also love ice cream. Mr. Santos bought half gallon of ice cream for them every pay day (15" and 30th of the month). Last month, Mr. Santos got promoted in his job. With this, an additional salary of P5,000.00 was added to his P20,000 basic salary. Now, he can buy 2 half gallons of differently flavored ice cream every pay day.What I Can Do Given the demand schedule set A and B, make a graph to show the demand curve. Make separate graph for set A and B. For each set, describe the graph briefly and determine the elasticity of the product based on the graph you made. (5 points per sell Set A Price Quantity 10 25 12 25 14 25 16 25 18 25 Your graph and answer for Set A Set B Price Quantity 10 30 11 25 12 20 13 18 15 15 Your graph and answer for Set BWhat's New What if the price of the products/services listed in column I increase its price, what will you do? Let us identify your responses. Based on what is listed in the column 1, write what is your decision in the column 2 and in column 3 briefly explain the reason in making such decision. Your decision could be. 1. Ikaw pa rin (if you still choose to buy or avail the product/service) 2. Buti pa siya. (if you choose to buy another product or an alternative) 3. Sige na nga. (if you have no choice but to buy the product) 4. Huwag na lang. (if you decide not to buy the product and not to find alternative) YOUR SITUATIONS REASON FOR YOUR RESPONSE/DECISION DECISION 1. favorite milk tea increases its price by P10.00 2. favorite load promo package for 7 days reduces its validity to 5 days at same price 3. a variety of rice increases by P5.00 per kilo 4. mother's maintenance medicine increases its price by 10% 5. increase in price of your favorite t-shirt brand