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yonzavLv1
25 Jun 2023
Qd = 250 + 0.75Y- 0.35P + 0.25Py + 500, where Y is income, Py is price of the related good
and P is price of the good, Y =1500. P=3, Py =2 then
A. Find quantity of demand
B. Calculate price elasticity of demand and interpret your result
Qd = 250 + 0.75Y- 0.35P + 0.25Py + 500, where Y is income, Py is price of the related good
and P is price of the good, Y =1500. P=3, Py =2 then
A. Find quantity of demand
B. Calculate price elasticity of demand and interpret your result
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