(Figure: VI) The price of good Y increased from $1.00 to $5.00. 
a. Explain whether goods X and Y are complements or substitutes.
b. Calculate the cross-price elasticity of demand for good X with respect to good Y.
c. What happened to the demand curve for good X?
Definitions:
Producer Price Index
Measure of the aggregate price level for intermediate products and wholesale goods.
Real Price
The price of a good or service after adjusting for inflation, reflecting its purchasing power over time.
Consumer Price Index
A metric that tracks the average fluctuation in prices urban consumers pay for a selection of consumer products and services over time.
Retail Price Changes
refers to fluctuations in the price levels of goods and services sold by retailers to the end consumer, influenced by factors such as supply, demand, and production costs.
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