7 Given the regression estimate of the demand equation of QX = 1,000 3.3Px + 0.001Y...

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7 Given the regression estimate of the demand equation of QX

= 1,000 − 3.3Px

+ 0.001Y where Y is income, what is the change in demand if price rises by $1, holding income constant? What is the percentage change in demand if price rises by $1 from an initial price of P x

= $200 given Y = 10,000? What is the effect on demand of a $1 increase in income, holding price constant?

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