For each of the following cases, calculate the arc price elasticity or point price elasticity of demand, and state whether demand is elastic, inelastic, or unit elastic. a. The demand curve is given by Q = 5,000 – 50P and the price of the product is $75. b. The demand curve is given by Q = 240 – 8P and the price of the product is $15. c. When the price of chicken rises from KHR 16,000 to KHR 20,000 per kilogram, the quantity demanded decreases from 500 kilograms to 380 kilograms. d. When the price of gasolines falls from $1.2 to $1.1, the quantity demanded increases from 1,850 liters to 2,000 liters.