47) The demand for good X has been estimated by Qxº = 6- 2Px + 5Py. Suppose that good X sells at $3 per unit and good Y sells for $2 per unit. Calculate the own price elasticity. A) -0.6 B) -0.5 C) -0.4 D) -0.3

Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 13SQP
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47) The demand for good X has been estimated by Qxd = 6 - 2Px + 5Py. Suppose that good 47)
X sells at $3 per unit and goodY sells for $2 per unit. Calculate the own price elasticity.
-
A) -0.6
B) -0.5
C) -0.4
D) -0.3
Transcribed Image Text:47) The demand for good X has been estimated by Qxd = 6 - 2Px + 5Py. Suppose that good 47) X sells at $3 per unit and goodY sells for $2 per unit. Calculate the own price elasticity. - A) -0.6 B) -0.5 C) -0.4 D) -0.3
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