Suppose the demand for inkjet printers is estimated to be Q = 1000 - 5 p + 10 p X - 2 p Z + 0. If p = 80, p X = 50, p Z = 150, and Y = 20,000,...

1.     Suppose the demand for inkjet printers is estimated to be Q = 1000 - 5p + 10pX - 2pZ + 0.1Y. If p = 80, pX = 50, pZ = 150, and Y = 20,000, answer the following sub-questions: [5 pts. each]

a.    What is the price elasticity of demand?

b.    What is the cross-price elasticity with respect to commodity X? Is commodity X a substitute or a complement?

c.    What is the cross-price elasticity with respect to commodity Z? Is commodity Z a substitute or a complement?

d.    What is the income elasticity?