Good X sells for $1 per unit, good Y sells for $2 per unit, and consumer income is $10. a. Please calculate the own price elasticity of demand, cross-price elasticity of demand between good X and Y, and the income elasticity of demand for good X. If you are unable to calculate any of these values, please state your reason(s) b. Using the information provided by your analyst, please determine the demand equation. c. Please calculate the income elasticity of demand for good Y and state whether it is a normal good or inferior good. If you are unable to calculate this value, please state your reason(s).

Anew firm is developing its business plan. it will require $615,000 of assets, and it projects $450,000 of sales and $355,000 of operating costs for the first year. management is reasonably sure of these numbers because of contracts with its customers and suppliers. it can borrow at a rate of 7.5%, but the bank requires it to have a tie of at least 4.0, and if the tie falls below this level the bank will call in the loan and the firm will go bankrupt. what is the maximum debt ratio the firm can use? (hint: find the maximum dollars of interest, then the debt that produces that interest, and then the related debt ratio.)a. 41.94%b. 44.15%c. 46.47%d. 48.92%e. 51.49%