Elasticity Analysis Assignment PU Pet Snacks Market Data Report a) What is the preferable price range at which to sell P U Pet Snacks? The PU Pet Snack Company's marketing department has estimated the following average boxes per week could be sold at the prices given below: m- Elasticity of Demand Type of Elasticity (Ed) $1.36 3090 $1.54 2550 $1.73 2010 $1.99 1340 $2.25 841 b) Further analysis indicated 3531 snacks would be sold at $1.22.Using that data, complete the table below: Price Quantity Ed Type $1.19 3620 N/A N/A $1.22 3531 c) PU Pet Snacks priced its product at $1.22. The marketing department noticed that the average household income of the Pet Snacks consumers increased from $15,100 to $15,780 over a one year period. During this time the average sales of Pet Snacks increased 179 boxes. Determine the income elasticity of PU Pet Snacks. Income Quantity Ey Type N/A N/Ad) During May, Milkbone brand increased its price from $2.00 to $2.25. The average weekly sales of PU Pet Snacks increased by 399 boxes. Determine the cross elasticity of PU Pet Snacks and Milkbone brand. Milkbone Price PU Quantity Ec Type N/A N/AP Q AP AQ P/Q ed Type = (AQ/ AP)*(P/Q) S 0.80 5030 S 0.84 4860 0.04 -170 $ 0.00017 -0.73457 inelastic S 0.99 4310 S 0.15 -550 $ 0.00023 -0.84223 inelastic S 1.19 3620 S 0.20 -690 $ 0.00033 -1.13412 elastic S 1.36 3090 S 0.17 -530 $ 0.00044 -1.37217 elastic S 1.54 2550 0.18 -540 $ 0.00060 -1.81176 elastic S 1.73 2010 S 0.19 -540 $ 0.00086 -2.44619 elastic S 1.99 1340 S 0.26 -670 $ 0.00149 -3.82692 elastic S 2.25 841 S 0.26 -499 $ 0.00268 -5.13468 elastic