Question: Please help me solve this!! The coconut oil demand function (Bushena and Perloff, 1991) is Q = 1,200 - 9.5p +16.2pp + 0.2Y, where Q

Please help me solve this!!

The coconut oil demand function (Bushena and Perloff, 1991) is Q = 1,200 - 9.5p +16.2pp + 0.2Y, where Q is the quantity of coconut oil demanded in thousands of metric tons per year, p is the price of coconut oil in cents per pound, pp is the price of palm oil in cents per pound, and Y is the income of consumers. Assume that p is initially 60 cents per pound, pp is 31 cents per pound, and Q is 1,375 thousand metric tons per year. Calculate the price elasticity of demand for coconut oil and the cross-price elasticity of demand (with respect to the price of palm oil). The price elasticity of demand is e = D. (Enter your response rounded to three decimal places and include a minus sign.)

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