K For each of the given events state the relevant elasticity concept. Then compute the measure of elasticity, using average prices and quantities in your calculations. In all cases, assume that these are ceteris paribus changes. When theatre ticket prices change by 15 percent, movie ticket sales change from 1,000 to 850. This describes the price elasticity of supply The elasticity is . (Enter your response rounded to two decimal places.) A decrease in the world income by 10 percent decreases paper sales from 14 million tons to 12 million tons. This describes the The elasticity is . (Enter your response rounded to two decimal places.)