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The demand function below is estimated using the data generated by a randomized controlled trial: Lnq x d =a+b*Lnp x +c*Lnp Y +d*Lnp z +e

The demand function below is estimated using the data generated by a randomized controlled trial:

Lnqxd=a+b*Lnpx+c*LnpY+d*Lnpz+e

where qxdis the quantity demanded of the product of interest (X), pxis the price of the product of interest (X), pyis the price of a substitute product (Y), and pzis the price of a complement product (Z). Also, e is the error term. The table below shows the 95% confidence interval estimation for parameters b, c, and d:

Parameter Lower Limit of 95%CIE Upper Limit of 95%CIE
b -0.052 -0.031
c -0.025 +0.045
d -0.154 -0.075

16. Consider thelowerlimit of 95%CIE for parameter b. A 10 percent increase in price of X is expected to reduce the demand for X by _____ percent.

Note: Round your answer to two decimal points.

17. Consider theupperlimit of 95%CIE for parameter b. A 10 percent increase in price of X is expected to reduce the demand for X by _____ percent.

Note: Round your answer to two decimal points.

I tried it and answers are not 5.2% and 3.1%

any help?

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