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b)What about your expectations for the price of coal? Can you say if it will go up or down? Explain.c)Now, consider the crude oil market. If coal-derived liquid fuels displace crude oil in some end-uses, what would you expect to happen to the price of crude oil, all other things being equal? Explain.
QUESTION 4 (16 points)The following table provides the demand for three goods (A, B, and C) at two prices for good A.Price of GOOD AQuantity Sold of AQuantity Sold of BQuantity Sold of C$301400400 500$40700 210825a)For an increase in price of Good A from $30 to $40, calculate the cross-elasticity of demand between good A and B. Are these goods substitutes or complements?b)For an increase in price of Good A from $30 to $40, calculate the cross elasticity of demand between good A and C. Are these goods substitutes or complements?.