Completed quickly and followed instructions given. Grammar, spelling, etc. was all good as well. Thank you so much! Will hire in the future.
Suppose the own price elasticity of demand for good X is -5, its income elasticity is 2, its advertising elasticity is 4, and the cross-price elasticity of demand between it and good Y is 3. Determine how much the consumption of this good will change if:Instructions: Enter your answers as percentages. Include a minus (-) sign for all negative answers.a. The price of good X decreases by 5 percent. ____ percentb. The price of good Y increases by 9 percent. ______ percentc. Advertising decreases by 3 percent._____ percentd. Income increases by 2 percent._____ percent
Suppose the own price elasticity of demand for good X is -5, its income elasticity is 2, itsadvertising elasticity is 4, and the cross-price elasticity of demand between it and good Y is 3….
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