Genovia has experienced exceptional growth in recent years. Its income per capita has increased from around $30,000 to $50,000 in last 5 years. Over the period, quantity demanded of personal cars has increased from 450,000 units per year to 600,000 units. Quantity demanded of public transport, however, has declined from l0,000 buses to 7,000 buses. 3. Calculate income elasticity of demand for personal car and bus. in. Which product is a normal good and which one is inferior good