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Given the Demand Function in Log-Linear Form: Q = 120

Question 36

Multiple Choice

Given the demand function in log-linear form: Q = 120 - 1.5P + 12ADV where Q = quantity,P = price,and ADV = advertising expenditures,what is the price elasticity?


A) 1.5, inelastic
B) -1.5, elastic
C) 120, elastic
D) 12, elastic

Correct Answer:

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