The quantity demanded of Good A is determined by the price of Good A, the price...

Question

Question

The quantity demanded of Good A is determined by the price of Good A, the price of Good B, and the income of the individal. The demand function is:

QA = 2292 - 5.5PA + 0.8PB + 0.4I

The values of the independent variables are:

I = 21692 PA = 332 PB = 62

What is the point price elasticity of demand?

ROUND YOUR ANSWER TO EXACTLY TWO DECIMAL PLACES.

business economics

Answer 1

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