Hello, I have an ag economics question. At the moment, I answered the parts however I could, but I would love your input on the problem. I have provided an image of the question. It is Ag Microeconomics based if that is okay?

1. -0.6329/1.208 = -0.5239 , So the elasticity is -0.5239

2. Since the elasticity is less than 1, it is inelastic having low responsiveness to price change, = -0.5239

3. Since the elasticity of oranges is inelastic, it therefore implies that oranges are a necessary good.

4. It produces a positive change it implies that consumer expenditure on oranges has increased.

Am I right???

The price of oranges has increased from $1.4900 to $32900 per pound. At the same time, quantity demanded of oranges has declined from 275,862,3210000 to 101,258,9630000 pounds. 1. Calculate the appropriate elasticity. 2. Interpret the elasticity. 3. Classify demand for oranges. 4. What has happened to consumer expenditures on oranges? All final answers must have four decimal places