Ly Lab 4 (Question 3) ~ Lyryx Learning Inc - Google Chrome laecon1.lyryx.com/student-servlets/LabServlet?ccid=3692 dvan lyryx orning Print Preferences Help Lab 4 (Question 3) Name: Hang Ma Date: 2020-06-07 Question 3 [8 points] Suppose that the price of good A decreases from $28 to $11 and, as a result, the quantity traded of A increases from 185 to 240, the quantity traded of B increases from 50 to 115 and the quantity traded of good C falls from 535 to 445. Note: Keep as much precision as possible during your calculations. Your final answer should be accurate to at least two decimal places. a) What is the absolute value of the price elasticity of demand of good A? Elasticity = 0 b) What is the cross-price elasticity of demand for good B with respect to the price of good A? Elasticity = 0 c) Given the value of the calculated elasticity, these two goods are: O normal O inferior O complements O substitutes d) What is the cross-price elasticity of demand for good C with respect to the price of good A? Elasticity = 0 e) Given the value of the calculated elasticity, these two goods are: O normal O inferior O complements O substitutes Official Time: 23:15:18 SUBMIT AND MARK SAVE AND CLOSE 11:15 PM 2020-06-07