C) d) (5 pts) Assume the price of coffee is 50. Compute the cross price elasticity of demand. Are coffee and sugar complements or substitutes? Why? What would happen to the demand for coffee if there is a 9% decrease in the price of sugar? Be specic. (5 pts) Assume the price of coffee is 50. Compute the income elasticity of demand. Is coffee a normal or inferior good? Why? How much would income have to change in order to increase the consumption of coffee by 40%? (5 pts) Now, consider the supply of coffee to follow the following equation SC = ZPC + 180, Find the equilibrium quantity and equilibrium price in the coffee market. Draw this equilibrium. (5 pts) Assume the price of coffee is 20. Is there a shortage or excess supply in the market? Draw a graph showing the shortage or excess supply. What would be the case if price of coffee was 5