Suppose the demand for good x is ln Q x d = 21 0.8 ln P x
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Question:
Suppose the demand for good x is ln Qxd = 21 0.8 ln Px 1.6 ln Py + 6.2 ln M + 0.4 ln Ax. Then we know good x is
Multiple Choice
- an elastic good.
- a Giffen good.
- an inferior good.
- a normal good.
Expert Answer:
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