a. You are using a low quality mobile phone which costs low and you can afford it within your current income. Now suppose your income increases then what effect will it have on your consumption of this type of mobile phone? Explain it with diagram. b. If prices of cricket ball increased then what effect will it have on bats? What type of elasticity is this? Explain in detail with diagram.

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A: Introduction and definition of the elasticity is as under:

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Q: importance of Elasticity

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