The market demand function for four year private universities is given by the equation Qpr = 84 3.1Ppr + 0.8! + 0.9Ppu where Qpr is the number of applicants to private universities per year in thousands, Ppr is the average price of private universities (in thousands of USD), I is the household monthly income (in thousands of USD), and Ppu is the average price of public (government- supported) universities (in thousands of USD). Assume that Ppr is equal to 38, I is equal to 100, and Ppu is equal to 18. 1. The price elasticity of demand for private universities is closest to: A 3.1. B 1.9. C 0.6. 2. The income elasticity of demand for private universities is closest to: A 0.5. B 0.8. C 1.3. 3. The cross price elasticity of demand for private universities with respect to the price of public universities is closest to: A 0.3. B 3.1. C 3.9. 4. If the cross- price elasticity between two goods is negative, the two goods are classied as: A normal. B substitutes. C complements