suppose that your demand schedule for compact discs as follows:

suppose that your demand schedule for compact discs as follows:quantity demand(income=$12000)50CDsa45302012A) use the midpoint method to calculate your price elastcityof demand as the price of compact discs increases from $8 to $10 if(i)your income is $10000and (ii)your income is $12000B)Calculate your income elasticity of demand as your incomeincreases from $10000 to $12000 if (i)the price is $12 and (ii)theprice is $16