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2. The demand for Pepsi is given by the following demand functiorn: where PPepsi is own price, I is income, PCoke is the price of a substitute good, and A is advertising expenditure. a) Write out the formula for: i. Own-price elasticity of demand ii. Income elasticity of demand iii. Cross-price elasticity of demand iv. Advertising elasticity of demand (b) Calculate the elasticities for i, ii, iii, and iv in (a) if Pepsi-5, 1-100, Poke-7. and A -20 For part (c), the supply of Pepsi is given by: QPepsi 2PPeps- 10 (c) Considering the supply and demand function together, assuming that I- 100, PCoke7, and A -20. What are the equilibrium price and quantity? Plot the demand and supply function on a graph

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