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Given the Demand Function QX = 1500 - 100PX

Question 81

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Given the demand function QX = 1500 - 100PX + 75PY + 1.5I + .06A where PX = $60.00 PY = $40.00. I = $2500, and A = $5,000. When price of good X is increased to $75.00, we know that demand for good X is elastic.

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