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Compute for the elasticity. Show your Solution. (5 points each) 1. Product A has an introductory price of P120.00. After 3 months of business operation, the owner decided to increase the price by 8 % which caused the demand to decrease from 495 to 450. 2. The price of pork increased from P240.00 to P280.00. Because of this, Mrs. Cruz, a cafeteria owner, decided to offer more chicken dishes than pork dishes. Her demand for chicken increases to 50 kilos per week from 35 kilos before the price increase of pork. 3. Like other children, Mr. Santos' daughters also love ice cream. Mr. Santos bought half gallon of ice cream for them every pay day (15th and 30th of the month). Last month, Mr. Santos got promoted in his job. With this, an additional salary of P5,000.00 was added to his P20,000 basic salary. Now, he can buy 2 half gallons of differently flavored ice cream every pay day.
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