Demand function Q=101603.210745184-16.269.7144609901*P+1.44286043518601*A

| November 24, 2016

Demand function Q=101603.210745184-16.269.7144609901*P+1.44286043518601*A

(1) Using the estimated demand equation, calculate an own-price elasticity.

(2) Discuss the meaning of the obtained own-price elasticity. Is it elastic? Inelastic?

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