suppose the price of an item icreases by 10% that the quanity supplied of that same item  decreases by 2%. what does the value tell you about the good in question?

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A: Given price of good  X = $35 Price of good Y = $ 25 Income =I = $1500

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A: Sorry as per our guideline we are only allowed to solve only 3 sub parts at a time kindly repost the…