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    Price elasticity of demand: good X

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    The demand for good X has been estimated by Qxd = 20 − 5Px + 4Py. Suppose that good X sells at $3 per unit and good Y sells for $2 per unit. Calculate the own price elasticity

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    https://brainmass.com/economics/production-function/586370

    Solution Summary

    This solution calculates the price elasticity given a demand and prices per unit.

    $2.19