3. Elasticities Round answers to the nearest hundredth. a. (Point Elasticity) A consumer demands gasoline in gallons q according to the function q=60-4p-0.5p² where p is the price of gasoline in

dollars. Find the point elasticity of demand when the price of gasoline is $6 per gallon. b. (Arc Elasticity) I use 400 kWh of electricity when the price is $0.48 per kWh and 600 kWh of electricity when the price is $0.34 per kWh. Compute my arc elasticity of demand for electricity. c. (Cross Price Elasticity) In Texas, Electrify America's electric vehicle charging stations have prices of $0.19 per minute for slow charging and $0.38 per minute for fast charging. Tim owns an electric vehicle and demands 15 minutes of fast charging and 25 minutes of slow charging per week at these rates. When the price for fast charging falls to $0.30 per minute, Tim demands 21 minutes of fast charging and 10 minutes of slow charging. What is Tim's cross price elasticity of demand for slow charging with respect to the price of fast charging?/nd. (Income Elasticity) Taylor earns $4000 per month at her job in sales and runs her window air conditioning unit for 6 hours per day. Taylor takes on a second part-time job on the weekends, which increases her earnings to $5000 per month. After taking the second job, Taylor runs her air conditioning unit for 8 hours per day. If her air conditioning unit uses 100 kilowatts per hour, what is her income elasticity of demand for the monthly amount of electricity she uses on air conditioning (assume a 30-day month)?