“Analyzing Elasticities: The Impact of a Price Decrease on Consumption of Good X” “Exploring Elasticities: The Effects of a Price Reduction on Demand for Good X”

Suppose the own price elasticity of demand for good X is -3, its income elasticity is -2, its advertising elasticity is 3, and the cross-price elasticity of demand between it and good Y is -5.  Determine how much the consumption of this good will change if the price of good X decreases by 7 percent.