\f5} Based on your calculations, are steel and aluminum suhstitutes or complements? Explain. [2 marks} E} Calculate the income elasticity of demand for steel, at the initial prices and income. [2 marks} 7"} Based on your calculations, is steel a normal or inferior good? Explain. [2 marks] El} If the objective is to maintain the quantity of steel demanded as calculated in part [1} above, what reduction in steel prices {in %) would be necessary to compensate for a 25% reduction in the price of aluminum? (2 marks}