Question
Suppose you are given the following equation: Qx = 50 - 10 (Px) + 4 (Py) + 80 (Inc) where Px, the price of the
Suppose you are given the following equation: Qx = 50 - 10 (Px) + 4 (Py) + 80 (Inc) where Px, the price of the own good = $100; Py, the price of a related good = $120 and Inc = Income of buyers equals $25K (use 25 for calculations). By using this information, the own price elasticity equals:
| - 1.89 | ||
| - 0.53 | ||
| 0.65 | ||
| 0. 1 |
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Weathering The Storm A Quick Guide To Safeguarding Your Finances During Economic Recession
Authors: Liam Wilhelm
1st Edition
979-8864393628
