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Question 1 (1 point) Assume that the following is the result of a demand estimation: ln Q = ln 20 - 5 ln P +

Question 1 (1 point)

Assume that the following is the result of a demand estimation: ln Q = ln 20 - 5 ln P + 2 ln I Where I represents consumer income, P is the price, and Q is quantity demanded. What is the price elasticity of demand?

Question 1 options:

-20

-5

-2

d)	None of the above

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