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good A is described by equations Qda = 900 – 4Pa + 2Pb­­ –0.002Y and Qsa...

good A is described by equations Qda = 900 – 4Pa + 2Pb­­ –0.002Y and Qsa = -60 + 6Pa. The price of good B is currently 50 and income ,Y, is currently 40,000. a. Find the equilibrium price of A. b. Find the equilibrium quantity of A. c. Find the elasticity of demand for good A at the equilibrium price. d. Find the elasticity of supply for good A at the equilibrium price. e. Find the cross-price of elasticity of the demand for good A with respect to the price of good B. Is A a complement or Substitute for B? f. Find the income elasticity of demand for good A. Is it normal or inferior? g. If the price of B rises to 100, find the new price and quantity for A and the new cross-price elasticity. Explain the changes in equilibrium and in the elasticity.

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