Restaurant XYZ is a restaurant that sells local cuisine. Based on a set of hypothetical data from Restaurant XYZ, the following demand estimation was established for their niche menu which is fish head curry.

Qd_{fish head curry} = 31 - 0.6 P_{fish head curry} + 2.1 Y + 3.6 Py _{(fish briyani)}+ 2T

Qd is quantity demanded for fish head curry, P is the price of fish head curry, Y stands for income and Py is the price for fish briyani and T stands for the taste for fish head curry.

1. Identify the dependent and the independent variables

(2 marks)

1. Explain the relationship between each independent variables with the dependent variable.

(2 marks)

1. If price of fish head curry = 10, Y = 5, Py = 6 and T = 4, calculate the demand for fish head curry n the restaurant.

(1 marks)

1. If the price of fish head curry increases to 15 but all other variables value remain the same, calculate the price elasticity of demand. Explain the value.

(2 marks)

1. If the average income (Y) increases to 10 with other values remaining the same as (c), calculate the value of income elasticity and explain the value.

(2 marks)

1. If the price of fish briyani increases from 6 to 8 with other values remaining the same as (c), calculate the value of cross elasticity of demand and explain the value.

(2 marks)

1. Based on the demand elasticities calculated in (d), (e) and (f), explain the marketing plan for restaurant XYZ.

(9 marks)