Suppose a consumer consumes two goods X and Y both being substitutes for one another. (a) When price of good X rises from Rs 8 to Rs 10, the demand for good Y increases from 50 units to 60 units. Find...

Suppose a consumer consumes two goods X and Y both being substitutes for one another.

(a) When price of good X rises from Rs 8 to Rs 10, the demand for good Y increases from 50 units to 60 units. Find the cross-elasticity of demand for good Y?

(b) When price of good Y rises from Rs 10 to Rs 12, the demand for X increases from 40 units to 50 units. What is the cross-elasticity of demand for good X?

(c) Will the producer of X or producer of Y prefer to raise its price?