I.Refer to theUnit 3 Learning Journal Elasticity Tables document (given below) to complete the assignment.

1. Calculate the price elasticity of demand from point B to point C.
2. Classify the elasticity for point B to point C as elastic, inelastic, or unitary.
3. Provide an explanation for the elasticity for point B to point C.
4. Calculate the price elasticity of demand from point D to point E.
5. Classify the elasticity for point D to point E as elastic, inelastic, or unitary.
6. Provide an explanation for the elasticity for point D to point E.
7. Calculate the price elasticity of demand from point G to point H.
8. Classify the elasticity for point G to point H as elastic, inelastic, or unitary.
9. Provide an explanation for the elasticity for point G to point H.
10. Calculate the price elasticity of supply from point K to point L.
11. Classify the elasticity for point K to point L as elastic, inelastic, or unitary.
12. Provide an explanation for the elasticity for point K to point L.
13. Calculate the price elasticity of supply from point N to point P.
14. Classify the elasticity for point N to point P as elastic, inelastic, or unitary.
15. Provide an explanation for the elasticity for point N to point P.
16. Calculate the price elasticity of supply from point Q to point R.
17. Classify the elasticity for point Q to point R as elastic, inelastic, or unitary.
18. Provide an explanation for the elasticity for point Q to point R.

Table 1: Demand for athletic shoes

Points Price Quantity

A $10 1,200

B $20 2,000

C $30 3,500

D $40 1,800

E $50 1,700

F $60 1,500

G $70 2,200

H $80 1,600

I $90 1,300

J $100 1,900

Table 2: Supply for sunglasses

Points Price Quantity

K $4 1,000

L $8 1,100

M $16 1,400

N $32 1,600

P $64 3,200

Q $128 1,000

R $256 1,400