The demand function for shiny rocks is empirically estimated via multiple regression to be:

Q = 152,000 - 25,000*(Own Price) + 1.45*(Income) + 14,000*(Related Good Price)

a)What is the estimated quantity demanded if Own Price is $4.50, Income is $60,000, and the Related Good Price is $4? (3 marks)

b)Calculate the cross-price elasticity of demand for shiny rocks (3 marks)

c)Is the Related Good a complement or substitute product? How do you know? (2 marks)

d)Is it a Giffen good?How do you know? (2 marks)