1. The following table shows the relationship between Good X, Good Y and consumers' income. Price of good Quantity Quantity Consumers' X (RM) demanded for demanded for income per good X (unit) good Y (unit) month (RM) 150 25 60 2000 130 30 55 1800 110 35 50 1600 90 40 45 1400 70 45 40 1200 a Calculate the price elasticity of demand for good X when its price increases from RM110 to RM130. State the degree of price elasticity of demand for good X. b) Calculate the cross elasticity of demand for good Y when the price of good X falls from RM110 to RM70. State the relationship between good X and good Y. C) Calculate the income elasticity of demand for good X and Y when consumers' income increases from RM1,800 to RM2,000. d) Based on your answer in (c), what type of good are good X and Y? e) List 2 factors that can influence the price elasticity of demand. Define inelastic demand. State what happens to the total revenue if the price of a good that has inelastic demand increases