To calculate the elasticity of demand for product Y based on the change in price of product X, we use the cross-price elasticity of demand formula. The term "loss elasticity" is not standard, so we assume it refers to cross-price elasticity, which measures how the demand for one good changes in response to a price change in another good. We will use the arc elasticity (midpoint) formula for accuracy with discrete changes. The formula for cross-price elasticity of demand ($E_{XY}$) is: $$E_{XY} = \frac{\frac{Q_{Y2} - Q_{Y1}}{(Q_{Y2} + Q_{Y1})/2}}{\frac{P_{X2} - P_{X1}}{(P_{X2} + P_{X1})/2}}$$ From the table: Initial Price of X ($P_{X1}$) = 140 Final Price of X ($P_{X2}$) = 150 Initial Demand for Y ($Q_{Y1}$) = 15,000 Final Demand for Y ($Q_{Y2}$) = 19,000 Step 1: Calculate the percentage change in the price of X. $$\% \Delta P_X = \frac{P_{X2} - P_{X1}}{(P_{X2} + P_{X1})/2} = \frac{150 - 140}{(150 + 140)/2} = \frac{10}{290/2} = \frac{10}{145}$$ Step 2: Calculate the percentage change in the quantity demanded of Y. $$\% \Delta Q_Y = \frac{Q_{Y2} - Q_{Y1}}{(Q_{Y2} + Q_{Y1})/2} = \frac{19,000 - 15,000}{(19,000 + 15,000)/2} = \frac{4,000}{34,000/2} = \frac{4,000}{17,000} = \frac{4}{17}$$ Step 3: Calculate the cross-price elasticity of demand. $$E_{XY} = \frac{\% \Delta Q_Y}{\% \Delta P_X} = \frac{\frac{4}{17}}{\frac{10}{145}}$$ $$E_{XY} = \frac{4}{17} \times \frac{145}{10} = \frac{4 \times 145}{17 \times 10} = \frac{580}{170}$$ $$E_{XY} = \frac{58}{17}$$ $$E_{XY} \approx 3.41176$$ The cross-price elasticity of demand for product Y is approximately 3.41. The positive value indicates that products X and Y are substitutes. The loss elasticity of demand of product Y is $\boxed{\text{3.41}}$. Send me the next one 📸