Solve for income elasticity. State the absolute value of the coefficient whether it is Elastic and the good is superior; Inelastic and the good is inferior; Unitary and the good is normal. Given: Original Qty. = 400 New Qty. = 1,200 Original Income = P4,000 New Income P8,000 Original Qty. 100 New Qty. = 110 Original Income = P5,000 New Income = P10,000 Original aty. = 1000 New Qty. 1,200 Original Income = P5,000 New Income = P6,000