As we know about the own-price elasticity

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Reference no: EM1328495

Elasticity: Suppose the demand for good x is

Suppose the demand for good x is lnQxd = 21 - .8 lnPx - 1.6 lnPy + 6.2 lnM + .4 lnAx. Then we know that the own-price elasticity for good x is:

A. unitary.

B. elastic.

C. inelastic.

D. Indeterminable.

Reference no: EM1328495

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