11. 12. a. How responsive to demand is each in the market period? b. Describe what a manufacturer of each product might do in the short run to increase production. c. How does the long run differ for these products ? If one automobile brand has an income elasticity of demand of 1.5 and another has an income elasticity equal to 0.3, what would account for the difference ? Give an example of a specific brand for each type of car. Suppose you estimated the cross elasticities of demand for three pairs of products and came up with the following three values : 2.3 , 0.1, 1.7 . What could you conclude about these three pairs of products ? If you wanted to know if two products from two different firms competed with each other in the marketplace, what would you look for