Q2 The demand for company X 's product is given by Q; : 12 3P3 + 4193;. PI: and PL, are prices for good X and good Y respectively. Suppose good X sells for $3.00 per unit and good Y sells for $1.50 per unit. a) Calculate the cross-price elasticity of demand between goods X and Y at the given prices. b) Are goods X and Y substitutes or complements? Why? c) What is the own price elasticity of demand at these prices? (1) How would your answers to parts a and c change if the price of X dropped to $2.50 per unit