Multiple Choice
The demand for good X has been estimated to be lnQxd = 100 - 2.5 lnPX + 4 lnPY + lnM.The own price elasticity of good X is
A) -2.5.
B) 4.0.
C) -2.5%.
D) 4.0%.
Correct Answer:
Verified
Correct Answer:
Verified
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