Compute the elasticity values. State the degree of elasticity and

the nature of the goods.

1. An increase in the price of Good Y from P5.00 to P6.00 causes

the demand for Good X to decrease from 1000 units to 700

units.

2. An increase in income from P3000 to P4000 causes the

demand for chicken to increase from 6 to 7 kilos.