can you help with these please

., DEPARTMENT OF ECONOMICS ECON1012: Principles of Economics ll Problem Set 11: Elasticity Calculate the price elasticity of demand. a) When the price of a phone call increases from $8 to $12, the volume of calls falls from 25,000 per hour to 15,000. b) New car dealers currently sell approximately 1,650 vehicles annually at an average price of $4 million. They have told the government that if the proposed higher import duty raises the price of new cars by $1/z million, they expect their sales to fall by about 300 per year. Reecting on the factors that inuence elasticity of demand, put the commodities in each set in order of their likely price elasticities (from highest to lowest). a) beverages, orange drinks, box drinks, Iuiciful orange drinks. h) shoes, rent, pens, transportation. c) electricity consumption, weekends at beach resorts, eating outwith friends, kitchen appliances. Suppose an economist estimates that the demand for movie tickets exhibits price elasticity of 0.75. How would you respond to Palace Cineplex's enquiry about the wisdom of a contemplated increase in the price of tickets? For each of the following product pairs, what is the likely sign of the cross price elasticity of demand? a) Ackee and saltsh b) Patty and coco bread c) Pants and skirts CD Books and photocopying e) Petrol and phone calls When the price of widgets was reduced from $600 to $450, the quantity of tingdeers went from 9,000 to 11,000 per month. Calculate the cross price elasticity? Are widgets and tingdeers substitutes or complements? Average real incomes in Dominica last year increased by 4 percent, while taxi ridership went up by 3 percent. What is the income elasticity of demand of taxi transportation? Is it a normal or an inferior good