The coconut oil demand function (Bushena and Perloff, 1991) is Q=1,2009.5p+16.2pp+0.2Y Where Q is the quantity of coconut oil demanded in thousands of metric tons per year, p is the price of coconut oil in cents per pound, pp is the price of palm oil in cents per pound, and Y is the income of consumers. Assume that p is initially 65 cents per pound, pp is 31 cents per pound, and Q is 1,275 thousand metric tons per year. Calculate the price elasticity of demand for coconut oil and the cross-price elasticity of demand (with respect to the price of paim oil) The price elasticity of demand is =(Enteryourresponseroundedtothreedecimalplacesandincludeaminussign.)