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Suppose Qxd = 10,000 2Px + 3 Py 4.5M , where Px = $100, Py = $50, and M = $2,000. What is the price elasticity of demand?

Suppose Qxd = 10,000 − 2Px + 3 Py − 4.5M , where Px = $100, Py = $50, and M = $2,000. What is the price elasticity of demand?
Answer a. −2.34
b. −0.78
c. −0.21
d. −1.21
e. None of the above.

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Economics-8269834.doc

Suppose Qxd = 10,000 − 2Px + 3 Py − 4.5M , where Px = $100, Py = $50, and M = $2,000.
What is the price elasticity of demand?
Answer a. −2.34
b. −0.78
c. −0.21
d. −1.21
e. None of the...

Sign up to view the full answer

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