Question I {a} Consider the following information for a product A and a related product B: Quantity of A traded Household Income l'' $1.161 $301313 $1-50 1 5,13 DE} $.9 325% 31.20 {i} Determine the price elasticity of demand for A, income elasticity of demand for A. and the cross price elasticity of demand between A and B using the mid-point formula. Based on the elasticities, classiyr A in terms of its price and income elasticities of demand and establish the relationship between product A and product E. (9 marks] (ii) Given that the price of product A increases by 5%? household income increases by 3% and the price of product E increases by 2%, explain and compute the effect on the revenue 'om product A, assume each of the changes occurs separately. (6 marks]