The demand for good X has been estimated to be ln Qxd = 100 – 5 ln PX + 2 ln PY + 4 ln M. The cross-price elasticity of demand between goods X and Y is:
2.
–5.
−2.
There is insufficient information needed to find the elasticity of good X.
The demand for good X has been estimated to be ln Qxd = 100 – 5 ln PX + 2 ln PY + 4 ln M. The cross-price elasticity of demand between goods X and Y is:
2.
–5.
−2.
There is insufficient information needed to find the elasticity of good X.
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