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SECTION B: NUMERICAL PROBLEMS QUESTIONS (20 Marks) INSTRUCTION: Answer all questions. Question 1 a) Economist Dr. J Jayranjan found that in introductory economics classes a 10% increase in lclass attendance is associated with a 4% increase in course grade. What is the elasticity of Icourse grade with respect to class attendance? (3 marks) b) With a 10% increase in the price of a dairy products, the number of units supply rises from I20 to 25. Determine the price elasticity of supply. State whether the supply for the product Iis elastic or inelastic. (5 marks) c) If the elasticity of demand for tea is zero and a household demands is 2 boxes for per month. |Suppose the upcoming month the price of tea increase by 5 %, how much quantity tea Idemanded by the household? Explain your answer. (2 marks} Question 2 The table below shows the relationship between .he price of commodity Q and the quantity demand for commodity Q and B. Commodity Q Demand Quantity Demand Consumer income (RM) for Commodity Q Commodity B (RM) {KG} (KG) 6.50 9|) 30 1850 TD 50 1600 40 'J' 1300 ll) 85 1250 1") d) Calculate the price elasticity of demand for commodity Q, if the price ofeorrunodity Q increases from RMTDCI to RNISJIEI. State whether the demand for the commodity Q is elastic or inelastic. {4 Marks) Calculate the cross elasticity of'demand for commodity B when the price ofcommodity Q decreases from RMEDD to RMEJCI. and identify relationship between good B and Q. {4 Marks) When the income of consumers increases from RMlZS to RMlD, calculate the income elasticity ofdemand for commodity Q and Bi {5 Marks) Identify Q and B are what type of commodity is. {2 Marks)