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II. Analyze the following situation, using the formula, find the price elasticity of demand and identify the type of elasticity. SITUATION COEFFICIENT TYPES OF ELASTICITY 1. You had cough and flu last month and the price of your medicine is P 10.00 per piece and you bought 10 pieces. However due to unpredictable weather this month, you again suffer from cough and flu and the price of your medicine now is P15.00 and you able to buy only 8 pieces. 2. At price P30.00, Anna can buy 2 pieces of soap. When its price decreases to P25.00, she can now buy 5 pieces of her preferred bar soap. 3. Mang Erning is suffering from diabetes; he needs insulin for his maintenance. Its price rises from P500 per 10 ml to P 700 per10 ml. With this market price, he has no choice but to buy the prescribe dosage of his medicine