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Suppose Q _x^d = 10,000 − 2 P_x + 3

Question 120

Multiple Choice

Suppose Q _x^d = 10,000 − 2 P_x + 3 P_y − 4.5M,where P_x = $100,P_y = $50,and M = $2,000.What is the own price elasticity of demand?

A) −2.34
B) −0.78
C) −0.21
D) −1.21

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