Q2: Last year, the equilibrium price of strawberries was $4.60 per kilogram and the equilibrium quantity of strawberries was 5.8 million kilograms. This year, the equilibrium price of strawberries increased to $5.10 per kilogram and the equilibrium quantity increased to 6.2 million kilograms due to an increase in average income from $36,400 to $37,200.

Use this information to answer the following questions.

Hint: Draw the market for strawberries and review the meaning of the four measures of elasticity examined in this course.

a) Why is it impossible to calculate the price elasticity of demand for strawberries from the information given above?

b) Why is it impossible to calculate the income elasticity of demand for strawberries from the information given above?

c) Which measure of elasticity can be calculated from the information given above?