The following table shows the own-price and cross-price elasticities for the following fruit groups:

Q-dependant variable Grapes Bananas Melons

P- independent variable

Grapes -2.092 0.735 -0.909

Banans 0.331 -1.199 0.164

Melons -0.849 0.092 -0.035

1) Choose one (own) Price elasticity data point for a good on the table above and explain (with a sentence or two) what happens with a 1% change in the price of that good?

2) Choose two Cross Price elasticity data points for two goods (one substitute, one complement) on the table above and explain (with a sentence or two) what happens with a 1% change in the price of one good? Be very clear.