Please Answer All Questions And Show Your Calculations. Thank You.

1.1. 1.2. 1.3. 1.4. Question 1: Suppose the price of potato chips decreases from $3.00 to $2.00 and, as a result, the quantity of potato chips demanded increases from 1,900 to 2,100. Using the midpoint method, what is the price elasticity of demand for potato chips? Show your calculations. (1 point) A manufacturer produces 400 units when the market price of $8 per unit and produces 600 units when the market price is $12 per unit. Using the midpoint method, what is the price elasticity of supply? Show your calculations. (1 point) Last year, Jane bought 4 pairs ofearrings when her income was $45,000. This year, her income is $51,000, and she purchased 6 pairs of earrings. Holding other factors constant, what is Jane's income elasticity of demand, using midpoint formula? Show your calculations. (1 point) Olivia purchases 1 gallon of milk per week when the price of coffee is $10fpound. She purchases 1.] gallons of milk per week when the price of coffee is $8x'pound. What is Olivia's cross-price elasticity of demand for coffee and milk, using the midpoint formula? Show your calculations. (1 point)