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Current point on the demand curve

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Suppose Qxd = 9,500 - 2Px + 3Py - 4.5M , where Px = $100, Py = $50, and M = $2,000. Calculate the current quantity of good X demanded, then use it and the given information to calculate the own-price elasticity of demand at the current point on the demand curve, which is:

  • 0.44
  • - 0.21
  • - 0.44
  • 0.21
  • - 2

Reference no: EM131438132

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