The demand function of good 1(Q1) is known as below: Q1=1102P14P2+3P3+0,2Y Determine: a. The cross elasticity of demand of good 1 and good 2, and also between good 1 and good 3 , if the price of each good and the level of income is: P1=4,P2=2,P3=3, and Y=10.000. (5 points) Note: If there are two goods, x1 and x2; the cross elasticity is the responsiveness of demand for good x1 following a change in the price of a related good x2, and vice versa b. Explain the relations between good 1 and good 2, and also the relation between good 1 and good 3. (5 points). c. Calculate the income elasticity of good 1 if the known level of price (P1,P2,P3) and income ( Y) is the same as in point a. (5 points) Note: measures the responsiveness of the quantity demanded for a good or service to a change in the income of the people demanding the good, ceteris paribus.. d. If the price of good 2 increases 20%, how does it affect the demand of Q1? (5 points) e. If the price of good 3 decreases by 10%, how does it affect the demand of Q1? (5 The demand function of good 1(Q1) is known as below: Q1=1102P14P2+3P3+0,2Y Determine: a. The cross elasticity of demand of good 1 and good 2, and also between good 1 and good 3 , if the price of each good and the level of income is: P1=4,P2=2,P3=3, and Y=10.000. (5 points) Note: If there are two goods, x1 and x2; the cross elasticity is the responsiveness of demand for good x1 following a change in the price of a related good x2, and vice versa b. Explain the relations between good 1 and good 2, and also the relation between good 1 and good 3. (5 points). c. Calculate the income elasticity of good 1 if the known level of price (P1,P2,P3) and income ( Y) is the same as in point a. (5 points) Note: measures the responsiveness of the quantity demanded for a good or service to a change in the income of the people demanding the good, ceteris paribus.. d. If the price of good 2 increases 20%, how does it affect the demand of Q1? (5 points) e. If the price of good 3 decreases by 10%, how does it affect the demand of Q1? (5