Title: Analyzing Elasticity of Demand: A Case Study of Emma's Boutique Let us consider a scenario where a fashion retailer, Emma's Boutique, is analyzing the impact of price changes on the demand for their clothing items. Emma has noticed a decline in sales in recent months and wants to understand how sensitive her customers are to price changes and changes in their income. Emma decides to conduct a survey among her regular customers to collect data on the quantity of clothing items they purchase, the price of the items, and their monthly income. The table below shows the survey results: Table: Survey Results Elasticity Type Initial Price Final Price Initial Quantity Demanded Final Quantity Demanded Initial Income Final Income Price Elasticity (PED) $50 $60 150 units per month 100 units per month - - Income Elasticity (YED) - - 150 units per month 180 units per month $3,000 $3,500 Cross-Price Elasticity (XED) $55 $50 150 units per month 130 units per month - - Use the survey findings provided below and p