The demand for good X has been estimated by QX d = 6 – 2PX + 5PY. Suppose that good X sells at $3 per unit and good Y sels flor $2 per unit. Calculate the own price elasticity.
Note
The demand for good X has been estimated by QX d = 6 - 2PX + 5PY. Suppose that good X sells at $3 per unit and good Y sels flor $2 per unit. the own price elasticity is -0.6.