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Time left 0:42:29 The demand for company X's product is given by Qx =12-3Px+4Py. Suppose good X sells for $3.00 per unit and good Y

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Time left 0:42:29 The demand for company X's product is given by Qx =12-3Px+4Py. Suppose good X sells for $3.00 per unit and good Y sells for $ 1.50 per unit. a. Calculate the cross-price elasticity of demand between goods X and Y at the given prices. b. Are goods X and Y substitutes or complements? Why? c. What is the own price elasticity of demand at these prices? How do you interpret it. d. How would your answers to parts a and c change if the price of X dropped to $2.50 per unit

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