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Given the demand function Q A = 500 - 3P A - 2P B + 0.01 I Where P A = 20, P B =

Given the demand function Q_A = 500 - 3P_A - 2P_B + 0.01I

Where P_A = 20, P_B = 30 and I = 5000, calculate and interpret

a) The price of elasticity of demand.

b) The cross price elasticity of demand. What is the relationship between the two goods.

c) The income elasticity of demand.

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