Problem - qd 8000 -2px 3py -45m what is the own-price


Problem - Qd = 8000 -2Px + 3Py -4.5M. What is the own-price elasticity of demand?

Px = 100, Py = 120, M = 1500 Explain fully.

What is the cross-price elasticity of demand? Fully explain.

What is the income elasticity of demand? Fully explain.

Solution Preview :

Prepared by a verified Expert
Econometrics: Problem - qd 8000 -2px 3py -45m what is the own-price
Reference No:- TGS01516219

Now Priced at $20 (50% Discount)

Recommended (97%)

Rated (4.9/5)