Given the Demand Function Q_X = 1500 - 100P_X

question 74

True/False

Given the demand function Q_X = 1500 - 100P_X + 75P_Y + 1.5I + .06A where P_Y = $40.00. I = $2500, and A = $5,000. For the range from P_X = $60.00 to P_X = $75.00, the arc price elasticity of demand is - 7.05.

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