Please answer the following questions:

1. Michelle, a highly motivated entrepreneur plans on applying for a business loan from Bank of America. She finds out that the percent change in price of business loans increased to 6% last month. This resulted in a 30% percent change in quantity demanded. What is the business loan's price elasticity?

2. Sarah, a bright college student finds out that the iPhone 11 was just launched this past week in Cupertino, CA. She along with the thousands of consumers plans on purchasing the iPhone 11 from Best Buy due to a price decrease from $999.99 to $749.99. Apple expects to see the quantity demanded for iPhone 11 to rise from 4 million to 6 million by the end of the year. What is the iPhone 11's elasticity of demand?

3. Jose is a terrific athlete as he is the captain of his basketball team. The championship game is this weekend, so he plans on buying new shoes for his entire team from Dick's Sporting Goods, but realizes that the price of a Nike Air Jordan shoe increased from $150.00 a pair to $175.00 a pair. Now, Jose only consumes 1 Nike Air Jordan shoes instead of his initial intent of purchasing 3 shoes. What is the price elasticity of demand for a Nike Air Jordan shoe?

4. Dell has gone through some market challenges these past few years, especially with the desktop market. If the prices of desktop computers decreases by 10% last quarter resulting in an increase of 15% in quantity demanded, then Dell will decrease the quantity supplied of desktops by 20%. What is the price elasticity of supply for Dell desktops?

5. The price of cell phones rose slightly higher from $800.00 to $950.00 this past month, and Samsung found out about Apple's release of the iPhone 11, so in turn it decided to increase production of its Note 20 from 350,000 to 500,000 to compete with its rival. What is the price elasticity of supply for Samsung Note 20 phones?