The Demand for Good X Has Been Estimated by Q_x^d

question 70

Multiple Choice

The demand for good X has been estimated by Q_x^d = 6 − 2P_x + 5P_y.Suppose that good X sells at $3 per unit and good Y sells for $2 per unit.Calculate the own price elasticity.

• A) −0.3
• B) −0.4
• C) −0.5
• D) −0.6

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Definitions:

Speculum

A medical tool used to hold open a body cavity or canal to allow for examination and treatment.

Pinna

The external part of the ear that collects sound waves and directs them into the ear canal.

Traction

The application of a pulling force to parts of the body to align and immobilize fractures or to relieve pressure on skeletal or soft tissues.

Aspirin

A medication used to reduce pain, fever, inflammation, and, in low doses, to prevent blood clots.