Question 2: ln ( Q X ) = 15.45 1.5 ln ( Q X ) 0.1 ln ( P Y ) .15 ln ( M ) Where Q X = Q u an t i t y demand for Good X , P Y = Price of Good Y , P Y = Price of Good Y , and M = household income (a) Find and interpret the own-price elasticity of Good X (b) Find and interpret the cross- price elasticity of Good Y (c) Find and interpret the income elasticity (d) If the price of good x changes by 10% what happened to the demand for good x ?.

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question three
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Marcys, Incorporated, operates the two best-known high-end department store chains in North
America. Marcy's and Bioomingtan's. The following simpilied data (in milions) were taken from
its recent annual report for the year ended. February 1: Requlred: Prepare a complete classified
(mulbple-step) consolidated statement of income. (showing gross margin, operating income, and
income before income taxes) Note: Enter your answers in millions (L.e., 10,000,000 should be
entered os 10). At the end of the prior annual reporting period, Bamard Corporation's balance
sheet showed the following: During the current year, the foliowing selected transactions
(summarized) were completed: a. Sold and issued 1,100 shares of common stock at $25 cash per
share (at year-end). b. Determined net income, $48 , 000 . c. Declared and paid a cash dividend
of $3 per share on the beginning shares outstanding. Required: Prepare a statement of
stockhoiders' equity for the year ended December 31, current year. Cariton Soup Company is the
world's leading maker and marketer of soup and sells other well-known brands of food in 160
countries. Presented here are the items listed on a simpilfed version of its recent balance sheet
(dollars in millions) presented in aiphabetical order: Required: Prepare a classified consolidated
balance sheet for Cariton Soup for the current year (ended July 31). Note: Enter your answers in
millions (1.e., 10,000,000 should be entered as 10).