QUESTION 7 Using the following demand curve Qdx = 2,000 - 14Px - 7Py + .02M + .001Ax Imagine Px is $100, Py is $12, M is $35,000, and Ax is $500,000. Now imagine Px is $50 (the other values are the same). What is the advertising elasticity of demand for good X? QUESTION 8 Use this demand function to answer the following questions: Q x =50-0.8Px + 5Py + 0.007M. At Px = $20, Py = 10, and M = 50,000, what is the cross-price elasticity of demand between good X and the price of good Y