4. The own price elasticity of Nazmul's demand for bagels is $E_B = -2.0$, the income
elasticity of demand for bagels is $E_{IB} = 0.5$, the cross price elasticity of demand between donuts
and bagels is $E_{DB} = 0.75$, and the cross price elasticity of demand between cream cheese and
bagels is $E_{CB} = -0.6$. Show your work as you answer the questions below!
4a. If the price of donuts rises by 20%, you anticipate that the quantity of bagels
demanded by Nazmul will change by ?%
4b. If the price of bagels rises by 20%, you anticipate that the quantity of bagels
demanded by Nazmul will change by ?% His total expenditure on bagels will change by ?%
4c. If the price of bagels falls by 10%, you anticipate that the quantity of bagels
demanded by Nazmul will change by ?% His total expenditure on bagels will change by ?%
4d. If the price of cream cheese rises by 30%, you anticipate that the quantity of bagels
demanded by Nazmul will change by ?%
4e. If Nazmul's income falls by 30%, you anticipate that the quantity of bagels demanded
by Nazmul will change by ?%
4f. If Nazmul's income rises by 20%, you anticipate that the quantity of bagels demanded
by Nazmul will change by ?%
