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log(Q)=a b log(P) c log(I) d log(Pm) where Q = quantity of haddock sold in New England P = price per pound of haddock I
log(Q)=a b log(P) c log(I) d log(Pm) where Q = quantity of haddock sold in New England P = price per pound of haddock I = a measure of personal income in the New England region Pm = an index of the price of meat Suppose b=1.957 , c=0.567 , and d=1.909 . What is the price elasticity of demand? -3.451
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International Economics
Authors: Dominick Salvatore
11th edition
978-1118177938, 1118177932, 1119915732, 978-1118476017, 1118476018, 978-1119915737
