1) The demand for a coffee is given a : Qd = 12 2P + 3P0, here Qd is the quantity demanded of coffee, , P is the price of coffee, and P0 is the price of so . e supply of the coffee is given as Q5 = 6 + 4P. a. Calculate the effect of the change in in the price of other good on the equilibrium price and equilibrium quantity using comparative statics. 1) The demand for a coffee? given as: Qd = 12 2P + 3P0, where Qd is the quantity demanded of coffee, , P is the price of coffee and '; ' the orice of some other good. The supply of the coffee is given as Q3 = 6 + 4P. a. Assumin_ P = $1.5 and P0 = $1. \\ alculate the crossprice elasticity of demand between coffee and the other good and interpret. \\L/ 10Y 2) Suppose the demand function is given as Qd = (07 1 P2 a. Calculate the slope of the demand curve. 2P10Y 2) Suppose the demand function is given as Qa P2 b. What is the price elasticity of demand?10Y 2) Suppose the demand function is given as Qad = P2 c. What is the income elasticity of demand?3) Find the optimal values of X and Y where U = X Y3 is maximized given the constrai t 2X + Y = 30. 4) The demand for a good is given as: Qd = 100 6P 3Y, Where Qd is the quantity demanded, P is the price, and Y is personal income. The supply of the good is given as Q5 = 60 + 4P . If Y = $5 a. Calculate the effect of the change in in the income on the equilibrium price and equilibrium quantity using comparative statics. 4) The demand for a good is given as: Qd = 100 6P 3Y, where Q, is the quantity demanded, P is t L3,!" - and Y is personal income. The supply of the good is given as Q5 = 60 + 4P . b. Calculate income elasticity of demand at the price ec.d interpret the value