Suppose demand is given by QX d = 50 – 4PX + 6PY + AX, where PX = $4, PY = $2, and AX = $50. What is the advertising elasticity of demand for good X?
Note
Suppose demand is given by QXd = 50 - 4PX + 6PY + AX, where PX = $4, PY = $2, and AX = $50. What is the advertising elasticity of demand for good X?ans:0.52 .