Mr. Shrikant always spends 20% of his income on commodity 'X'. The income elasticity of demand for commodity 'X' is   O a. 0,15   O b. 6.67   OC -0.15   Od . 1

When a ride-sharing service implements "surge" pricing, raising all fares by 30%, drivers choose to work longer hours and and the supply this results in an increase of 40% more rides available. The price elasticity of supply for ride-sharing is is O 1.33; inelastic O 1.33; elastic O 0.75; elastic O 0.75; inelastic

ped?

A decrease in the supply of a product most likely would be caused by O An increase in business taxes O A decrease in resource costs for production O A decrease in the price of a complementary good O None of the above

Answer both I will rate