Can you explain in details about 500 words. Answer the question below

The government is has commissioned your consultancy to supply the necessary data required to formulate an income support policy for retirees. The consultancy has assigned you, their senior economist, to work on the project. You have decided that knowing the income elasticities of retirees is important and, as a result, has identified Judy as a representative retiree. Last year, Judy's income increased from $10 000 to $12 000. Judy purchased 11 concert tickets this year, compared with 10 tickets last year. Judy consumer instant noodles on 190 occasions this year, compared with 200 times last year. Write a short report containing the information the Local Council wants by answering the questions below.

a. Calculate Judy's income elasticity of demand for both concert tickets and instant noodles, using the arc elasticity concept.

b. Suppose that in addition, you know that the prices of both concert tickets and instant noodles have risen over the last year.

What could you say about Judy's income elasticity of demand for each of these products in this case?

c. Suppose that there has been no change in the price of instant noodles over the last year, but the price of instant curry flavoured rice has risen. What could you say about Judy's income elasticity of demand for instant noodles?