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Using the Chart Below. As the Price of good Y changed from Py1 to Py2, Quantity demanded for good X changed from Qx1 to Qx2.

Using the Chart Below. As the Price of good Y changed from Py1 to Py2, Quantity demanded for good X changed from Qx1 to Qx2. Using the midpoint method, answer the following:

Goods X and Y are? the cross price elasticity of demand is?

Price Quantity Price Quantity Income Quantity P1 9.00 Q1 1.000 Py1 8.00 Qx1 2.000 Income1 $28,000.00 Q1 50.00 P2 8.00 Q2 2.000 Py2 7.00 Qx2 3.000 Income2 $30,000.00 Q2 52.00

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