B. The demand for Bachanal Cruise Line holiday cruise tickets, based on annual data, has been estimated as follows: Q = 20,000 9.4133 + 3.2PJ 0.35Y where Q is the number of tickets sold, P3 = price per ticket for Bacchanal Cruise Line; P1 = price per ticket per Jolly Roger cruise and Y = Income. Ian = $1,450 P1 = $1,200 and Y = $10,000 i. Compute the point price elasticity of demand and interpret your result. ii. Compute the cross price elasticity of demand and interpret your result iii. Find the point income elasticity of demand and interpret your result. C. Assuming an output level of 15,000 and using the following cost function TC = 1,300 + 36Q one:2 + 0.0903 Where Q is output in thousands Calculate the following: i. The average total cost at this level of output ii. The average variable cost at this level of output iii. The average xed costs at this level of output (4 ma] (4 mm (4 ma] (3 ma (3 ma (2 ma