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5. Given the estimated demand function for good X:lnQ=100.5lnPx0.1 (Income), we know that: a. Good X is price elastic. b. GoodX is price inelastic. c.

5. Given the estimated demand function for good X:lnQ=100.5lnPx0.1 (Income), we know that: a. Good X is price elastic. b. GoodX is price inelastic. c. GoodX is a normal good. d. Demand for GoodX is cyclical

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