Answer the following problem

Company X is a manufacturer of cosmetic products. Its management is currently engaged in an analysis of the lipsticks produced by the firm, examining the future demand for them. Market research indicates that advertising expenditure, price, price of competitors (Brand "Y") and average income are four major variables affecting the demand for the lipsticks. The demand equation was estimated as follows:

Q_x = 10.58P_x^-1.7A^-0.8Y^1.9 P_y^2.5

where Q_x = monthly sales in units for company X

P= price of the lipstick for company X

A = promotional expenditure in $

Y = average income of the consumers in $

P_{y =} price of '" Lipstick" provided by company Y

Use the previous equation to interpret the price elasticity, advertising elasticity, income elasticity and cross elasticity. If the company "Company X" wants to increase its sales revenue in the next year, from pure managerial perspective provide your own recommendation and justify your answer