Question: Q x = 6 0 - 2 P x + 1 4 P Y - 6 P Z - 8 I Assume that P x

Qx=60-2Px+14PY-6PZ-8I
Assume that Px=9,PY=10,PZ=2 and suppose that the average income is $15,000 annually )=(15.
Compute the price elasticity of demand for good X. Give an interpretation.
Compute the cross-price elasticity between goods x and Y. Give an interpretation.
Compute the cross-price elasticity between goods x and Z. Give an interpretation.
Compute the income elasticity of good X. Give an interpretation.
Q x = 6 0 - 2 P x + 1 4 P Y - 6 P Z - 8 I Assume

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