NEED an assignment on Econonmics (no plagarism)please check the attachment

MBAF -504 : Economics from a Business Perspective Assignment # 1: Demand and Supply, elasticity Due: 2nd November 2018 Length: not more than the maximum words limit provided for each question . Please submit your assignment using Turniton icon before the deadline ( 2nd November 2018) . Do not include the questions in the document you submit to Turniton . Write the number of the question only. 1. Border Crossings into B.C. Up 15 Percent Cheap gasoline brought 964,000 American visitors through border crossings in B.C. during the first four months of 2016, a 15 percent increase from the previous year . Source: Vancouver Sun , July 9, 2016 The U.S. energy Information Administration reports the average price of gasoline was $2.83 a gallon in July 2015 and $2.22 a gallon in July 2016. a. List and explain the elasticities of demand that are implicitly referred to in the news clip. (Maximum 40 words) b. Estimate a price elasticity of demand for B.C. border crossings. (Maximum 140 words) Use this information to answer question #2 . Ride -Hailing Could Lead to More Road Congestion An American study says ride -hailing companies Uber and Lyft, now arriving in Canada, bolster public transit by extending its reach from the first to the last mile. Another view is that they undermine public transit by providing a lower -cost service that worse ns congestion . Source: Vancouver Sun , Ma rch 10, 2017 2. Are Uber rides and transit rides complements or substitutes? Explain your answer. (Maximum 70 words) 3. What is the effect on the price and quantity of smartphones if the price of a music - streaming subscription falls or the price of a wireless plan rises ? (Draw the diagrams!) (Maximum 90 words) 4. Saudi Arabia Oil Revenues Shrink As the price of oil fell from $99 a barrel in September 2014 to $53 a barrel by September 2015, Saudi Arabia’s oil revenues fell by 23 percent, compared with its 2014 oil revenues of 444.5 billion riyals . Source: News.markets, December 29, 2015 a. How can you use the information in the news clip to determine whether the demand for S audi Arabian oil is elastic or inelastic ? (Maximum 60 words) b. How can you use the information in the news clip to estimate the magnitude of the price elasticity of demand for Saudi Arabian oil? (Maximum 110 words) c. Does the news article tell us whether the supply of Saudi Arabian oil is elastic or inelastic? Explain. (Maximum 100 words)