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Question 1 1 pts While most elasticities measure how changes in that product's market affects that product's quantity in the market, cross price elasticity measures the price of one good changes in response to a change in the price of another good. the quantity demanded of one good changes in response to a change in the quantity demanded of another good the quantity demanded of one good changes in response to a change in the price of another good, strongly normal or inferior a good is. Question 4 1 pts The price elasticity of demand for a PS5 system is approximately 2. Assume that there is a 0.2% increase in the PS5 price. Which of the following is true? a The quantity of the good demanded decreases by 0.1%. The quantity of the good demanded decreases by 0.4% The quantity of the good demanded decreases by 0.05%. The quantity of the good demanded decreases by 0.2%