The demand for haddock has been estimated as: log (Q) =a+b log (P)+c log (I) +d log (Pm) where Qquantity of haddock sold in New England P = price per pound of haddock I = a measure of personal income in the New England region Pm = an index of the price of meat Suppose b= -2.174, c = 0.877, and d = 1.909. What is the price elasticity of demand? O 1.909 0.877 -2.479 O -2.174 What is the income elasticity of demand? O 1.909 0.877 Ⓒ 0.459 -2.174 What is the cross price elasticity of demand? ○ 0.877 O 2.177 O -2.174 1.909 According to the estimated model, the demand for haddock is with respect to price. Suppose disposable income is expected to increase by 5 percent next year. Assuming all other factors remain constant, the quantity of haddock demanded next year will ▼ by percent.