Consider a demand price of a product A given by QA(pA,pB,pC,Y) = 504pA 3pB +2pC + 0.001Y where pA, pB an pC stand for the prices of the products A, B...

Consider a demand price of a product A given by QA(pA,pB,pC,Y) = 50−4pA −3pB +2pC + 0.001Y where pA, pB an pC stand for the prices of the products A, B and C, and Y stands for the consumer's income. Consider the point determined by the following values: pA = 5e, pB = 7e,

pC =3eandY=11,000e.

76.1. Compute the elasticity of the demand of product A with respect to its own price, and explain

what sort of demand function QA is.

76.2. Compute the cross elasticities of QA with respect to the prices pB and pC, and determine what

sort of goods are B and C with respect to A.