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solve it please. Q.No.2 Given Q, = 50-5P - 15P2 - 50P2 - 0.199Y, whereas P1, P2, P3 are prices and y is consumer income

solve it please.

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Q.No.2 Given Q, = 50-5P - 15P2 - 50P2 - 0.199Y, whereas P1, P2, P3 are prices and y is consumer income at a specific time. P1=50, P2=70 P3= 60 and Y= 15000 (a) Use price and income elasticity's determine the relationship between good's? (b) Determine the effect on Ol of a 10 percent price increase for each of the other goods individually. (c) Comprehensively comments on your results

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