Briefly explain why you think the following statements are true, false, or uncertain.

Your grade will depend largely on the quality of your explanations.

a.The sum of the uncompensated cross-price elasticities of demand of good x with respect to changes in the prices of all other goods is equal to the negative of the uncompensated own-price elasticity of demand for good x.

b.The compensated cross-price elasticity of demand for housing with respect to the price of automobiles is equal to the compensated cross- price elasticity of demand for automobiles with respect to the price of housing times the share the consumer spends on automobiles.

c.The share that a consumer spend on a good will be equal to the sum of the uncompensated own and cross price elasticities of that good.

d.The uncompensated own-price elasticity of demand for good X is always greater, in absolute value, than the compensated own-price elasticity of demand for good X.