Explore BrainMass
Share

Price elasticity of demand: good X

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

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

© BrainMass Inc. brainmass.com October 25, 2018, 9:46 am ad1c9bdddf
https://brainmass.com/economics/production-function/586370

Solution Summary

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

$2.19
See Also This Related BrainMass Solution

MANAGERIAL ECONOMICS PROBLEMS

Please see the attached file for full problem description.

View Full Posting Details