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Pls, ASAP QUES'HDN #1 {a} Calculate the elasticityr for good X from $3 to $T; $T to $5, and $5 to $5. [15 points] [b]:

Pls, ASAP

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QUES'HDN #1 {a} Calculate the elasticityr for good X from $3 to $T; $T to $5, and $5 to $5. [15 points] [b]: Calculate the total revenue (TR) at each price level for good X. Comment on the relationship between TR and price elasticit'_I.Ir of demand for good X. [10 points] [cl Assume that the price of): is xed at $8. An increase in the price of'r' fnom $3 to $9 will increase demand for X by 20 units from the initial level of 1G5 units. Calculate the cross elastidtv ot demand for good X What does the cross elasticity you have calculated tell you about the relationship between goods X and '1'? Explain. {15 points}

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