Using regression analysis on data from a field experiment, the demand curve for a product is estimated to be $Q_x^d=1,200-3Px-0\mathrm{.}1PZ$ where $P_Z=$$$300.$

a$.$ What is the own price elasticity of demand when $P_x=$$$140?$ Is demand elastic or inelastic at this price? What would happen to the firm's revenue if it decided to charge a price below $$140?$

Instruction: Enter your response rounded to two decimal places.

Own price elasticity:

Demand is:

If the firm prices below $$140,$ revenue will:

b$.$ What is the own price elasticity of demand when $F_x=$$$240?$ Is demand elastic or inelastic at this price? What would happen to the firm's revenue if it decided to charge a price above $$240?$

Instruction: Enter your response rounded to one decimal place.

Own price elasticity:

Demand is:

If the firm prices above $$240,$ revenue will:

c$.$ What is the cross$-$price elasticity of demand between good $x$ and good $Z$ when $P_x=$$$140?$ Are goods $x$ and $Z$ substitutes or complements?

Instruction: Enter your response rounded to two decimal places.

Cross$-$price elasticity:

Goods $x$ and $Z$ are: