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6. Demand for X is given as Qgg: IOPX-j P21'2Y1 '5 $3sz is the price ofa related good, and Y is income. , where Q
6. Demand for X is given as Qgg: IOPX-j P21'2Y1 '5 $3sz is the price ofa related good, and Y is income. , where Q is quantity demanded ofX, 1; is the price ofX, a Find the price elasticity of demand for X? .............................. b Find the income elasticity of demand for X? ......................... c Find the cross price elasticity of demand for X? ....................... d If the price ofX increases from the current level, what will happen to demand for X? ............. e If the price of X increases from the current level, what will happen to quantity demanded for X? f If the price of X increases from the current level, what will happen to the revenue of the business? g If the price ofX increases from the current level, what will happen to the prot of the business? 11 What is the relationship between X and Z? ......................................... i; If the price on increases, what will happen to demand for X? ............................. j If the price OfZ increases, what will happen to quantity demanded for X? ............................. k If income increases, what will happen to demand for X? .......................... 1 If income increases, What will happen to quantity demanded for X
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