The Demand for Good X Is Given by LnQ_x^d =

question 93

Multiple Choice

The demand for good X is given by lnQ_x^d = 120 - 0.9 lnP_x + 1.5 lnP_y - 0.7 lnM.Which of the following statements is correct?

• A)X has constant income elasticity.
• B)An economic downturn will increase demand for X.
• C)A 15% increase in income would increase demand for X by 10.5%.
• D)X has a constant income elasticity and an economic downturn will increase the demand for X.

---

Definitions:

Headings

Titles or captions used to structure content, indicating sections or topics within a document.

Parallelism

The use of components in sentences that are grammatically the same or similar in construction, sound, meaning, or meter.

Online Presence

The collective existence of an individual or organization that can be found online through various digital platforms.

Career Management

The active process of planning and taking steps towards one's career goals, including learning new skills, gaining experience, and making strategic career moves.