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Suppose the own price elasticity of demand for good X is -2, its income elasticity is...

Suppose the own price elasticity of demand for good X is -2, its income elasticity is -1, its advertising elasticity is 2, and the cross-price elasticity of demand between it and good Y is -3. Determine how much the consumption of this good will change if: Instructions: Enter your responses as percentages. Include a minus (-) sign for all negative answers.

a. The price of good X decreases by 4 percent. percent

b. The price of good Y increases by 10 percent. percent

c. Advertising decreases by 3 percent. percent

d. Income increases by 2 percent. percent

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