What is the own-price elasticity of demand for good, Microeconomics

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What is the own-price elasticity of demand for good

The demand for good X is estimated to be Qxd = 5,000 - 5PX +3PY + 2M + AX, where PX is the price of X, PY is the price of good Y, M is income and AX is the amount of advertising on X. Suppose the present price of good X is $25, PY = $50, M = $30,000, and AX = 500 units. What is the own-price elasticity of demand for good X?

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Microeconomics: What is the own-price elasticity of demand for good

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Microeconomics: What is the own-price elasticity of demand for good

Reference No:- TGS042003

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Hedging exchange rate exposure

Q : Determining the international risk

Q : Is there range of production characterized by scale economy

Q : What was wexler ''s net income for the year

Q : What is the own-price elasticity of demand for good

Q : Readability of training materials

Q : Professional conduct leading to a disciplinary action

Q : What taylor''s total failure to file and to pay penalties are

Q : Statement of cash flows and the ratios

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: What is the own-price elasticity of demand for good

Reference No:- TGS042003

Recent Questions Asked Microeconomics

Q : Hedging exchange rate exposure

Q : Determining the international risk

Q : Is there range of production characterized by scale economy

Q : What was wexler ''s net income for the year

Q : What is the own-price elasticity of demand for good

Q : Readability of training materials

Q : Professional conduct leading to a disciplinary action

Q : What taylor''s total failure to file and to pay penalties are

Q : Statement of cash flows and the ratios

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