What Does a Positive Value for Price Elasticity Indicate If

question 99

Multiple Choice

What does a positive value for price elasticity indicate if y represents the quantity demanded of a particular good and x is its unit price in a log-log regression model?

• A) As price increases, the expected sales decreases.
• B) As price decreases, the expected sales increases.
• C) As price increases, the expected sales increases.
• D) As price decreases, the expected sales remain the same.

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