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Please explain how do we get answers. market! TABLE 4.15 Average Price of Quantity of Price of Year Quantity of Income M M N N

Please explain how do we get answers.

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market! TABLE 4.15 Average Price of Quantity of Price of Year Quantity of Income M M N N $50 000 $2.50 100 $20 800 50 000 2.80 90 20 750 50 000 2.80 80 130 700 4 55 000 2.80 90 720 a) What is the price elasticity of demand for Product M? b) What is the price elasticity of demand for Product N? C) What is the income elasticity of demand for Product M? d) What is the income elasticity of demand for Product N? e) What is the cross-elasticity of demand of Product M for a change in the price of Product N

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