Agriculture marketing

1. Short-Run Demand for Pork: Qt - 367 -3.12(Pr"Pork) + 1.35(Pr"Beef) + 1.69(Pu Poultry) + 0.12(11) + 0.52(Q1-1) Variable Units (Per Year) Quantity Demanded of Million Ibs/year 1325 Pork (Q1) Price of Pork (Pt Pork) S/cut $172 Price Beef (Pr Beef) S/cut $226 Price of Poultry S/cut $78 (Pi Poultry) Consumer Income (It) S $3069 Find the Own-Price Elasticity of Demand for Pork in the Short-Run. Indicate whether it is Inelastic, Elastic, or Unit Elastic. Find the Cross-Price Elasticities. Indicate whether the Cross-Price Elasticities are Substitutes or Complements. Find the Income Elasticity of Demand for Pork in the Short-Run. Indicate whether Pork is a Normal or Inferior Good Variable Short-Run Elasticity Own-Price Elasticity of Demand for Pork Cross-Price Elasticity of Demand for Pork with Respect to Beef Cross Price Elasticity Demand for Pork with Respect to Poultry Income Elasticity of Demand for