Suppose the own price elasticity of demand for good X is -3, its income elasticity is...

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Suppose the own price elasticity of demand for good X is -3, its income elasticity is 1, its advertising elasticity is 2, and

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Answer 1

Answer #1

Ans:

a. 15%

b. - 40%

c. - 6 %.

Note: Include minus sign for negative answers.

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Answer 2

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