Suppose the own price elasticity of demand for goodXis -5, its income elasticity is 1, its advertising elasticity is 3, and the cross-price elasticity of demand between it and goodYis 4. Determine how much the consumption of this good will change if:

Instructions: Enter your responses as percentages. Include a minus (-) sign for all negative answers.

a. The price of goodXdecreases by 5 percent.

____________ percent

b. The price of goodYincreases by 8 percent.

_____________percent

c. Advertising decreases by 2 percent.

_____________percent

d. Income increases by 4 percent.

_______________percent