The Demand for Good X Has Been Estimated by Q

question 63

Multiple Choice

The demand for good X has been estimated by Q _x^d = 12 − 3P_x + 4P_y.Suppose that good X sells at $2 per unit and good Y sells for $1 per unit.Calculate the own price elasticity.

• A) −0.2
• B) −0.3
• C) −0.5
• D) −0.6

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Definitions:

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Top Management Team

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