The demand and supply functions for two supplementary products, cups (X) and plates (Y), are given as: qdX=2469pX+3pY;qsX=15+45pX and qdY=275+6pX12pY;qsY=18+96pY Determine the equilibrium quantities supplied and prices for cups and plates. a. pY=3;pX=103;qY=270;qX=4620 b. pY=103;pX=3;qY=270;qX=4620 c. pY=3;pX=3;qY=270;qX=4620 d. pY=103;pX=103;qY=270;qX=4620 The demand function for a certain kind of bed is given by q=53003p Determine the point elasticity of demand () when p=1600. a. =9,6>1 and demand is elastic. b. =9,6>1 and demand is inelastic. c. =9,6