. Calculate elasticity values for part a (Must: show all calculations): [3] a. Suppose firm XYZ (selling good x) has calculated its demand function from its past data & related variables and it arrives at the following demand function: Dx = 11000 - 200 Px + 2Py + .05 I Where: Px, Py and I stand for price of good x, price of related good y and average income respectively. If given values are Py = Rs. 500 and I = Rs. 40,000 then: i. Write the equation for demand curve for good x. ii. If supply of x is given by: Sx = 3000 +200 Px , then make a demand and supply schedule for good x for prices points: 50, 45, 40, 35, 30, 25, 20 and 15 (all prices in rupees) iii. What are equilibrium quantities of demand and supply & equilibrium price? iv. What will happen to the demand curve if the income increases by 10%? Show your answer graphically.