The demand for widgets is found to be q100-11p 05y where p, Econometrics

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The demand for widgets is found to be q100-11p 05y where p

The demand for widgets is found to be Q=100-11P +0.5Y, where P is the price of widgets in dollars, Y is average income in thousands and Q is the quantity of widgets in thousands. Say that P=7 and Y=50. What is the point price elasticity of demand in absolute value terms?

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Econometrics: The demand for widgets is found to be q100-11p 05y where p

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Econometrics: The demand for widgets is found to be q100-11p 05y where p

Reference No:- TGS0577293

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Recent Questions Asked Econometrics

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Econometrics: The demand for widgets is found to be q100-11p 05y where p

Reference No:- TGS0577293

Recent Questions Asked Econometrics

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Q : The demand for widgets is found to be q100-11p 05y where p

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