Hello, I have an ag economics question. I would love your input on the problem. I have provided an image of the question. I have also provided notes for you to look and get a better understanding ofhow the homework has to be done using the interpretative formula and the functional formula to calculate the elasticity not any other way sorry.Please do not use themid-point method. I have also provided notes on two examples of the questions so it could help you answer this one.

Am I right???

Here is The question below:

1. Measures the Consumer's Income Responsiveness A. Recall: The Consumer is Choosing a Quantity in Order to Maximize their Utility 1. What happens to that choice when income changes? 2. Which direction does Demand change? 3. How much does demand change? B. Direction Theory Based 1. Does Income and Demand Move in the Same Direction? 2. Does Income and Demand Move in Opposite Directions? 3. Does Income not have any effect on Demand? C. Magnitude Empirical Data Based 1. Based on Actual Consumer Behavior 2. What is the Percentage Change in Demand? \fAll final answers must have four decimal places.\fI. Calculating the Elasticity - Formula Percentage Change in Demand A. & = Percentage Change in Income 1. Interpretative Formula 2. Percentage Change in Demand per Percentage Change in Income 3. Unrestricted in Sign 4. We are answering two questions, direction (1) and magnitude (2) of the change in demand given a change in income - this answers the magnitude question. q1 - q2 B. &= q1 + q2 11 - 12 20 11 + 12 1. Functional Formula 2. Use this formula to calculate the elasticityIII. Interpretation A. For every one percent change in income, demand will change by percent in the opposite/same direction of the income change, ceteris paribus. B. Key Components of the Interpretation 1. Income 2. Demand 3. Opposite/Same IV. Classification of the Good in Question A. | &I > 0, the good is classified as Normal B. EI