2. Calculate price elasticity of demand, cross price elasticity of demand and income price elasticity of demand. Then indicate whether the alternative good is a complement or substitute.P =10, PA=20, and I =100.

1) Q = 500 - 3P + 4PA+ I(I stands for income and PAstands for price of the alternative good)

2) Q = 100 - 0.1P - 0.5PA- 0.2I

3) Given a production functionK0.4L0.6=200

, find dK/dL. (Must use the implicit differentiation formuladydx=fxfy

.)