I would like the answers with calculations and explanation please

2. Remembering the learning activity in Unit 3, the Gondwanaland chairman of production reported that the ansum berry growers could meet a demand of 700 barrels of anaum berries per month at a price of $70 per barrel. Then the growers were plagued with a zoaum berry bug infestation that reduced output, causing production to fall to only 600 barrels. This resulted in a price increase to $84 per barrel. The following table shows the chairman's report: Month Monthly barrels of apsum berries Price per barrel demanded June 700 $70 July 600 $84 a. Using the midpoint method, show your work and calculate the price elasticity of demand for Gondwanaland zoaur berries. Explain what this price elasticity of demand means? (Enter your response here.) b. Complete the table below by calculating what the monthly total revenue is for June, what the monthly total revenue is for July, and the change in total monthly revenue for these two months. How have these numbers changed? (Enter your response here.) Month Monthly barrels of ansum berries Price per Monthly total revenue demanded barrel (Enter Totals Below) June 700 $70 Enter monthly total revenue here) July 600 $84 Enter monthly total revenue here) Change in monthly total revenue: Enter change in monthly total revenue here.)UNIT 4 BU224 ASSIGNMENT TEMPLATE 5 c. Using your anewer to part a. above, how could you have predicted the change in monthly total revenue that you found in part b. above? (Enter your response here.) 3. The Gondwanaland chairman of production reported that the new Altair chariots (most modern, horse-drawn family chariot) had a PRICE elasticity of 3 and an INCOME elasticity of 2. The supply of these Altair chariots is elastic. Evaluate the following statements and identify whether each statement is true or false and explain how you used the appropriate elasticity to help you determine your answer. a. If there is a 20% increase in the price of the Altair chariot, Gondwanaland can predict the quantity demanded to fall by an astounding 60%. (Enter your response here.) b. An increase in Gondwanaland consumers' incomes will cause prices to rise, but the total quantity demanded will also increage. (Enter your response here.)