please solve this economics problem. Suppose a 5 percent increase in income results in a 6 percent decrease in the quantity demanded of beans. income elasticity of bean is equal to and bean are a good. Clarification: - Calculate the income elasticity of demand for beans and state what type of good beans are. - The type of good is either a normal, inferior, or necessity. - The sign on the value of income elasticity matters Question 31 3 pts Suppose that the quantity demanded of soda increases by 5% when the price of milk increases by 20%. a) The cross- elasticity between soda and milk is equal to b) Relationship between the two goods: Soda and milk are goods Clarification: - The relationship between the two products is either substitutes or complements..

1. please solve this economics problem. Suppose a 5 percent increase in income results in a 6
percent decrease in the quantity demanded of beans. income elasticity of bean is equal to and
bean are a good. Clarification: - Calculate the income elasticity of demand for beans and state
what type of good beans are. - The type of good is either a normal, inferior, or necessity. - The
sign on the value of income elasticity matters Question 31 3 pts Suppose that the quantity
demanded of soda increases by 5% when the price of milk increases by 20%. a) The cross-
elasticity between soda and milk is equal to b) Relationship between the two goods: Soda and
milk are goods Clarification: - The relationship between the two products is either substitutes or
complements.