Q2. (21 marks) The demand equation for a fn-m's product has been estimated as Ln Qx= 7.3 2Ln Px'l' 0.5 La I+.25 LPy- 1.51.1: P3, where Qx represents unit sales of brand X, Px is the price of brand X, I is per-capita income, Py is the price of brand Y, and P2 is the price of brand Z. (A) Write this demand equation in its mulhlicavefarm. (B) What is the price elasticity of demand for brand X? is demand price elastic or inelastic? (C) What is the income elasticity of demand for brand X? What type of good is brand X? (D) What is the cross-price elasticity of demand for brand X in relation to the price of brand Y? What is the relationship between brand X and brand Y? (E) What is the cross-price elasticity of demand for brand X in relation to the price of brand Z? What is the relationship between brand X and brand Z? (F) What effect will an increase in Pa: by 10% have on the rm's total revenues? (G) What is the total effect will an increase in Pa: by 10%, a decrease in I by 3%, an increase in Py by 5%, and a decrease in P; by 3% on the demand for the rm's product