Calculate the own price elasticity

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Reference no: EM131236620

The demand for good X has been estimated by Q xd = 12 - 3Px + 4Py. Suppose that good X sells at $2 per unit and good Y sells for $1 per unit. Calculate the own price elasticity.

Select one: a. -0.2. b. -0.3. c. -0.5. d. -0.6.

Reference no: EM131236620

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