When income of a person increased, his demand for fish decreased. Select from below, the most suitable statement to explain the elasticity of fish. s O a. Fish is a substitute good b. Income elasticity of fish is negative O c. Income elasticity of fish is positive O d. Fish is a normal good Suppose the price of a product decreased from RO 15 to 12. As a result of this decrease in the price, the products demand increased from 120 to 150 units. Determine price elasticity of demand. a. 0.75 b. 1.25 1.75 d. 1.55