Using the values from questions 3 and 4, calculate point elasticities for each of the independent variables provided. Notes e The equation for point elasticity is 5 = (dQ/dX) * (X/Q) where X represents each independent variable. e During the course, we discussed interpretations for elasticities as follows: Price (elastic/inelastic), Cross Price (complement/substitute), and Income (normal/inferior). As appropriate, provide interpretations for the elasticities you calculated