Suppose the Demand for a good is given by the following equation: Qx=79 - 2.37Px. What is the value of the B?

Economists estimated that the price elasticity of beer is -0.30 and the income elasticity of beer is 0.09. This means that Select one:

a. an increase in the price of beer will lead to a decrease in the quantity demanded of beer and beer is a luxury.

b. an increase in the price of beer will increase the quantity demanded of beer and beer is a normal good.

c. a decrease in the price of beer will lead to an increase in revenue for beer sellers and beer is an inferior good.

d. an increase in the price of beer will lead to an increase in revenue for beer sellers and beer is a normal good

Given the demand function Q = 24 - 1.5P 1. Calculate the point price elasticity at a price of $14

Can you please explain how you get your answers and the logic behind them?