Hello chegg community, can some please help ne with question 2,3 and 4. please also check question on the second picture is correct. thanks guys

Daily Wage Quantity for Demanded Supervisors (000s) $170 540,000 $185 475,000 $200375,000 $205 300,000 $225 265,000 $240 235,000 $260 200,000 $275 176.000 Daily Wage for Supervisors $170 $185 $200 $205 $225 $240 $260 $275 Quantity Supplied (000s) 200,000 230,000 275.000 300.000 345,000 365.000 380.000 395.000 2. Calculate the coefficient of price elasticity of demand and the price elasticity of supply, if the daily wage goes from $205 to $225. Is elasticity at this level inelastic or elastic? How do you know? Use the formula found in Chapter 2 of the textbook and calculate to 4 decimal places. ((225-300)/300)4(300,000 - 345,000)/345,000) = 1.916 3. Based on the elasticity you calculated in Question 2, would it be a good idea for a union to try to negotiate a large wage increase? How successful do you think a union will be? Explain why you think so. 4. Do you think that unions are properly supporting their members now that people are returning to work? Choose a specific union and explain why or why not, citing at least three current Canadian sources (within the last three months). Don't forget to properly cite your sources. I 1 Firstly we need to understand the downward slope is known as the demand and is related to wages. The supply curve on the other hand is related to wages paid. Let's draw a point to find the equilibrium for this equation and overall supply/ demand. After performing supply and demand curve I've found out the demand for this equation was 250 for equilibrium and quantity was 250,000 400 300 29=250 250 200 100 Quantity 250k TODO 200, CO W 400,000 Jow 500, Quantity Daily Wage Quantity for Demanded Supervisors (000s) $170 540,000 $185 475,000 $200375,000 $205 300,000 $225 265,000 $240 235,000 $260 200,000 $275 176.000 Daily Wage for Supervisors $170 $185 $200 $205 $225 $240 $260 $275 Quantity Supplied (000s) 200,000 230,000 275.000 300.000 345,000 365.000 380.000 395.000 2. Calculate the coefficient of price elasticity of demand and the price elasticity of supply, if the daily wage goes from $205 to $225. Is elasticity at this level inelastic or elastic? How do you know? Use the formula found in Chapter 2 of the textbook and calculate to 4 decimal places. ((225-300)/300)4(300,000 - 345,000)/345,000) = 1.916 3. Based on the elasticity you calculated in Question 2, would it be a good idea for a union to try to negotiate a large wage increase? How successful do you think a union will be? Explain why you think so. 4. Do you think that unions are properly supporting their members now that people are returning to work? Choose a specific union and explain why or why not, citing at least three current Canadian sources (within the last three months). Don't forget to properly cite your sources. I 1 Firstly we need to understand the downward slope is known as the demand and is related to wages. The supply curve on the other hand is related to wages paid. Let's draw a point to find the equilibrium for this equation and overall supply/ demand. After performing supply and demand curve I've found out the demand for this equation was 250 for equilibrium and quantity was 250,000 400 300 29=250 250 200 100 Quantity 250k TODO 200, CO W 400,000 Jow 500, Quantity