D(pcoke)=26.17 - 3.98pcoke+ 2.25ppepsi+2.10acoke- 0.62apepsi+ 9.58s + 0.99y Where:ajis advertising expenses =$110 s=1if summer, s=0 otherwise yis real income = $100 pcoke=$1ppepsi=$1 a. Whatis the Quantity Demanded for Coke in the Summer?(1.0 Points) b. Is cokea Normal Good or an inferiorGood?(0.25 Points) c. Is Coke a Elastic or Inelastic Good (explain how the equation led you toyouranswer)? (0.25 Points) d. Calculatethe Cross Price Elasticity of Demand for Coke and Pepsi andexplainthe nature of theresult?(0.5Points) 2.U=X1/3Y PX= $1; PY= $2; I = $120 a. What are X and Y if there is anincrease in the price of good X to $2?(0.5 Points) b. Usetheslutskyequation to show thisimpact and what is attributed to the: a. Income Effect (0.5 Points) b. Substitution Effect(0.5 Points) c. What is the reduction in Utility caused by this increase in price?(0.5 Points)