The demand for good X
The demand for good X has been estimated to be ln Qxd = 100 – 4.2 ln PX + 5.5 ln PY + ln M. The own price elasticity of good X is:
a)− 4.2.
b) 4.2.
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c)− 5.5.
d) There is insufficient information needed to find the elasticity of good X.
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