Mark complains: "I can't believe they raised the price of comic books, and because of this, I'm going to reduce my demand for comic books." Is Mark stating the concept of demand correctly? (3 paks) 2. Fred, a poor college student, states: "I eat tuna sandwiches five times a week. When I graduate and get a real job, I will never purchase tuna again." Does Fred see tuna as a normal or inferior good? Why? (3 maks) 3. A local restaurant offers an "all you can eat" ribs special. If a person pays $1 1.95, she can eat as many servings as she desires at no additional cost. Can you infer anything about her marginal utility from observing her eating behavior? (4 mks) Price (S) Quantity Purchased (per day) 50 40 20 Use the following table to answer the following. (10 mks) a. Calculate the price elasticity of demand between $2 and $4. Is demand elastic or inelastic. b. Calculate the price elasticity of demand between $4 and $6. Is demand elastic or inelastic