Suppose the Demand for Good X Is Ln Q_x^d =

question 116

Multiple Choice

Suppose the demand for good x is ln Q_x^d = 21 − 0.8 ln P_x − 1.6 ln P_y + 6.2 ln M + 0.4 ln A_x.Then we know that the own price elasticity for good x is:

• A) unitary.
• B) elastic.
• C) inelastic.
• D) It cannot be calculated from the existing information.

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