Multiple Choice
The demand for good X has been estimated to be ln Qxd = 100 − 2.5 ln PX + 4 ln PY + ln M.The income elasticity of good X is:
A) 4.0.
B) 1.0.
C) 2.0.
D) −2.5.
Correct Answer:
Verified
Correct Answer:
Verified
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