7 You have the following information about good X and good Y Income elasticity of demand for good X: -3 Cross-price elasticity of demand for good X with respect to the price of good Y: 2 Would an increase in income and a decrease in the price of good Yunambiguously decrease the demand for good X? Why or why not? high hope Huang Automotive Adjusted Trial Balance July 31, 2020 No. Account Titles Debit Credit 101 Cash NT$ 9,840 112 Accounts Receivable 8,780 157 Equipment 15,900 158 Accumulated Depreciation-Equip. NT$ 7,400 201 Accounts Payable 4,220 208 Uneamed Rent Revenue 1,800 301 Owner's Capital 45,200 306 Owner's Drawings 16,000 400 Service Revenue 64,000 429 Rent Revenue 6,500 711 Depreciation Expense 8,000 726 Salaries and Wages Expense h 55,700 732 Utilities Expense 14,900 NT$ 129,120 NT$129,120