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Question 8 The demand for good x is estimated to be Q x d = 1 7 0 0 - 2 . 5 P x

Question 8
The demand for good x is estimated to be Qxd=1700-2.5Px+3.5PY+1.5M+Ax, where Px is the price of x,PY is the price of good Y,M is income, and Ax is the amount of advertisingon x. Suppose the present price of good x is $50,PY=$100,M=$7,500, and Ax=1,000 units. Based on this information, what is the cross-price elasticity between goods x and Y? Give your answer with 4 decimals.
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