Consider the demand function for good1, Q1 = 3588 - 9P1 +0.7000000000000001P2 - 0.75P3 + 0.1Y

Where, price of good1(P1) is 78, price of good2 (P2) is 256, price of good3 (P3) is 147,and income (Y) is 21983;

(a) Find the price elasticity of demand (PED).

(Give your answer totwo decimal places)

**Don't forget toconsider taking absolute value!**

(b) Find the income elasticity of demand (YED).

(Give your answer totwo decimal places)

(c) Find the cross price elasticity of demand (XED) betweengood1 and good3.

(Give your answer toeast two decimal places)

(d) Estimate the percentage change in the demand for good1resulting from a 11% decrease in the price of good2.

(Give your answer totwo decimal places, if required)

Based on the value ofYED, comment on the nature/type of the goods

Answer in oneword.

(f) Based on the value of the XED between good 1 and good3 ,comment on the relationaship between these two goods

Answer in oneword.